Investor Presentation • Feb 16, 2024
Investor Presentation
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16 February 2024
This document has been prepared by Unipol Gruppo S.p.A. and by UnipolSai Assicurazioni S.p.A. solely for information purposes in the context of the presentation of its FY23 preliminary results.
The FY23 data contained herein are preliminary in nature and refer to the date hereof and, therefore, may be subject to further variations.Please note that these preliminary data are subject to review by the Independent Auditors that still have to complete the necessary analysis in order to release their report.
The FY23 final results will be approved by the Board of Directors scheduled on 21 March 2024 and will be disclosed to the market according to, and in the terms set forth by, the applicable laws and regulations.
Luca Zaccherini, Senior Executive responsible for drawing up the corporate accounts of Unipol Gruppo S.p.A. and UnipolSai Assicurazioni S.p.A., declares, in accordance with Article 154-bis, para 2, of the 'Consolidated Finance Act', that the accounting information reported in this document corresponds to the document contents, books and accounting records.
The content of this document does not constitute a recommendation in relation to any financial instruments issued by the companies or by other companies of the Group, nor it constitutes or forms part of any offer or invitation to sell, or any solicitation to purchase any financial instruments issued by the companies or by other companies of the Group, nor it may be relied upon for any investment decision by its addressees.
Numbers in the document may not add up only due to roundings.
Unless otherwise specified, all figures reported in this presentation refer to the Unipol Group and are based on in force IFRS.
1FY23 Preliminary Consolidated Results
Goals Tracking
1.2
Appendix
2
Rationalization Project of the Unipol Group Corporate Structure
1FY23 Preliminary Consolidated Results
Rationalization Project of the Unipol Group Ccorporate Structure
1.12022-2024Strategic Plan Goals Tracking
1.2
Appendix
| €m | F Y 2 2 r ep / IFR S4 IAS 39 |
2 3 r F Y ep / S1 9 IFR 7 |
F Y 2 2 no rm / IFR S4 IAS 39 |
2 3 n F Y or m / S1 9 IFR 7 |
|---|---|---|---|---|
| l Pr ta t e- x re su |
1, 1 0 8 |
1, 5 6 5 |
1, 0 7 8 |
1, 2 9 8 |
| f L i No n- e |
8 4 6 |
8 9 6 |
9 3 7 |
8 1 0 |
| f L i e |
2 7 3 |
3 7 5 |
2 9 3 |
3 3 3 |
| he O t r |
-1 0 |
2 9 4 |
-1 5 2 |
1 5 6 |
| l Ne t r t es u |
8 6 6 |
1, 3 3 1 |
7 7 4 |
1, 0 6 4 |
| l Gr t r t ou p ne es u |
6 8 3 |
1, 1 0 1 |
5 8 3 |
8 3 4 |
FY22 rep. IFRS17/9: net consolidated result 675€m; group net result 525€m
FY22 norm. IFRS17/9 (excl. (i) the badwill accounted by Unipol following the increase of its stake in BPER, (ii) the accounting effect recognized by BPER after the acquisition of 80% of Banca Carige and (iii) the employee solidarity fund): net consolidated result 584€m; group net result 425€m
FY23 norm. figures exclude the badwill accounted by Unipol relating to its stake in BPSO (267€m, o/w 86€m Non-Life, 43€m Life and 138€m Other).
| T L L B SSICURAZIONI |
|---|
| ---------------------------------- |
| €m | F Y 2 2 r ep / IFR S4 IAS 39 |
F Y 2 2 no rm / IFR S4 IAS 39 |
F Y 2 3 / IFR S1 7 9 |
|---|---|---|---|
| l Pr ta t e- re su x |
9 2 0 |
1, 1 1 9 |
1, 0 1 9 |
| i f No L n- e |
7 1 1 |
8 8 9 |
6 7 1 |
| f i L e |
2 7 5 |
2 9 5 |
3 3 3 |
| he O t r |
-6 5 |
-6 5 |
1 6 |
| l Ne t r t es u |
6 5 1 |
7 8 9 |
7 6 6 |
| l Gr t r t ou p ne es u |
5 9 7 |
7 3 3 |
7 0 0 |
FY22 rep. IFRS17/9: net consolidated result 466€m; group net result 418€m
FY22 norm. IFRS17/9 (excl. employee solidarity fund): net consolidated result 604€m; group net result 555€m
FY23 no normalization is needed
P&L BY SECTOR
| €m | fe No L i n- |
fe L i |
he O t r |
l To t a |
|---|---|---|---|---|
| Ins ur an ce re ve nu e |
8, 9 4 7 |
6 2 3 |
-- | 9, 5 7 1 |
| Ins ts ur an ce co s |
-9 0 2 9 , |
-3 6 7 |
-- | -9 0 4 5 , |
| l ins Re t ur an ce re su |
2 4 7 |
-6 | -- | 2 4 1 |
| ice l In t su ra nc e s er v s r es u |
1 6 5 |
2 4 1 |
-- | 4 0 7 |
| f l r l Ne ina ia a t t nc es u |
8 0 9 |
1 6 2 |
3 6 2 |
1, 3 3 4 |
| he / O t ts r r ev en ue s co s |
8 | 6 | -2 | 0 1 |
| f l b l In in ia i i ies t. t ex p. on |
-8 6 |
-3 4 |
-6 6 |
-1 8 6 |
| l Pr ta t e- x r es u |
8 9 6 |
3 7 5 |
2 9 4 |
1, 5 6 5 |
| l Ne t r t es u |
7 3 9 |
2 8 2 |
3 1 0 |
1, 3 3 1 |
| €m | fe No L i n- |
fe L i |
he O t r |
l To t a |
|---|---|---|---|---|
| Ins ur an ce re ve nu e |
8, 9 4 7 |
6 2 3 |
-- | 9, 5 7 1 |
| Ins ts ur an ce co s |
-9 0 2 9 , |
-3 7 6 |
-- | -9 4 0 5 , |
| l ins Re t ur an ce re su |
2 4 7 |
-6 | -- | 2 4 1 |
| l In ice t su ra nc e s er v s r es u |
1 6 5 |
2 4 1 |
-- | 4 0 7 |
| f l r l Ne ina ia a t t nc es u |
5 8 3 |
1 2 0 |
1 6 |
7 1 8 |
| / he O t ts r r ev en ue s co s |
9 | 6 | 6 | 2 0 |
| f l b l in ia i i ies In t. t ex p. on |
-8 6 |
-3 4 |
-6 | 2 6 -1 |
| l Pr ta t e- x r es u |
6 1 7 |
3 3 3 |
1 6 |
1, 0 1 9 |
| l Ne t r t es u |
5 1 4 |
2 3 9 |
1 3 |
7 6 6 |
Excluding interest expenses on financial liabilities
| €m | Co mp |
Va r. |
|
|---|---|---|---|
| b l Mo i ity |
4, 3 6 5 |
5 0 % |
+3 0 % |
| Mo tor |
4, 0 0 6 |
% 46 |
% +3 0 |
| he Ot r |
35 8 |
4% | % +2 6 |
| far W l e e |
1, 2 7 7 |
2 0 % |
4 % +7 |
| lt h He a |
1, 05 7 |
12 % |
+1 3.5 % |
| Ac i de nt c |
71 5 |
8 % |
-0. % 5 |
| Pro ert p y |
2, 1 4 5 |
2 9 % |
+4 0 % |
| he da F ire & ot to r m. p rop |
1, 3 9 2 |
16 % |
+5 3 % |
| l T Ge PL ne ra |
8 07 |
9 % |
+4 6 % |
| he Ot r |
3 15 |
% 4 |
% -2. 8 |
| l To ta |
8, 6 5 1 |
0 0 % 1 |
2 % +4 |
| l To ta |
b i l ity Mo |
l f We are |
Pro ert p y |
|
|---|---|---|---|---|
| i l & SM Re Es ta |
79 % |
% 44 |
10 % |
24 % |
| Co te rp ora |
% 21 |
% 6 |
% 10 |
% 5 |
| l To ta |
1 0 0 % |
| €m | Co mp |
Va r. |
|
|---|---|---|---|
| ip lSa i Un o |
6, 95 2 |
% 8 0 |
% +1 0 |
| lut Un iSa e |
79 6 |
9 % |
+3 8.7 % |
| L ine ar |
21 6 |
2 % |
+1 2. 2 % |
| Ar As icu ion i ca s raz |
27 2 |
3 % |
+1 0. 9 % |
| iat S |
17 2 |
% 2 |
% +1 3. 2 |
| Inc tra a on |
12 9 |
1 % |
-16 3 % |
| OR DD |
11 4 |
% 1 |
0. 6 % +1 |
| l To ta |
8, 6 5 1 |
0 0 % 1 |
2 % +4 |
| l To ta |
b l Mo i ity |
l f We are |
Pro ert p y |
|
|---|---|---|---|---|
| Ag ts en |
% 76 |
% 42 |
% 10 |
% 24 |
| Ba nc ass ura nc e |
6 % |
% 1 |
3 % |
2 % |
| he Ot r |
19 % |
7 % |
7 % |
4 % |
| l To ta |
1 0 0 % |
Combined ratio = 1- (insurance services result/insurance contracts revenues) Operating figures
FY23
+1,295
+1,846
+550
Traditional + Capitaliz.
Net inflows
| €m | Co mp |
Va r. |
||||
|---|---|---|---|---|---|---|
| d l Tra it ion a |
4, 0 0 0 |
6 2 % |
+3 8. 3 % |
|||
| % 2 0. 0 + |
l ke d Un it in |
46 6 |
7 % |
-5 0.7 % |
||
| 6, 4 0 9 |
fun Pe ion ds ns |
1, 79 2 |
28 % |
+3 7.4 % |
||
| Ca ita l iza ion t p |
15 1 |
2 % |
-24 .1 % |
|||
| l To ta |
6, 4 0 9 |
1 0 0 % |
+2 0. 0 % |
| To l ta |
br ds Hy i |
Pu re d l Tra it ion a |
Pu re ke d L in |
Pe ion ns ds Fu n |
|
|---|---|---|---|---|---|
| d du l In iv i a |
6 2. 8 % |
16 3 % |
44 .4 % |
1.5 % |
0. 6 % |
| l lec Co ive t |
3 6. 3 % |
-- | 9. 0 % |
-- | 27 .4 % |
| Co te rp ora |
% 0. 9 |
-- | % 0. 9 |
-- | -- |
| l To ta |
10 0. 0 % |
| €m | Co mp |
Va r. |
|
|---|---|---|---|
| Ag ts en |
1, 5 9 3 |
25 % |
-2. 0 % |
| Ba nc ass ura nc e |
2, 8 57 |
40 % |
+3 3. 6 % |
| d o f f He ice a |
2, 10 5 |
% 3 3 |
% +2 8.4 |
| he Ot r |
13 3 |
2 % |
-8. 9 % |
| l To ta |
6, 4 0 9 |
1 0 0 % |
+2 0. 0 % |
| €m | Co mp |
Va r. |
|
|---|---|---|---|
| lSa Un ip i o |
3, 8 11 |
% 5 9 |
% +1 2. 3 |
| Ar V ita AV I ca + |
2, 55 4 |
40 % |
+3 4. 8 % |
| he Ot ies r c om p an |
45 | 1 % |
-16 .7 % |
| l To ta |
6, 0 9 4 |
0 0 % 1 |
+2 0. 0 % |
€m
Other
Total
Technical Reserves by Minimum Guaranteea
| F Y 2 2 |
F | Y 2 3 |
||
|---|---|---|---|---|
| in ie l d M . g ua r. y |
bn € |
Co m p. |
bn € |
Co m p. |
| 0 % |
1 7. 1 |
4 7 % |
1 9. 3 |
5 2 % |
| 0 % 1 % - |
7. 8 |
2 2 % |
7. 4 |
2 0 % |
| 1 % 2 % - |
5. 2 |
1 4 % |
4. 9 |
1 3 % |
| 2 % 3 % - |
4. 3 |
1 2 % |
4. 1 |
1 1 % |
| % 3 > |
1. 9 |
% 5 |
1. 8 |
% 5 |
| l To ta |
3 6. 4 |
1 0 0 % |
3 7. 5 |
1 0 0 % |
a Technical reserves of segregated funds in the existing portfolioCalculated at cost basis
Gross financial yield on a yearly basis
Operating figures
€m
| P R E S E N T V A L U E O F L I F E N E W B U S I N E S S |
||||||||
|---|---|---|---|---|---|---|---|---|
| €m | ||||||||
| ine f ine L Bu o s |
ss | N B V |
P V N B P |
in N B M ar g P V N B P on |
||||
| Ins i t ur an ce w |
h p f i ic ip ion t p t t ro ar a |
7 0 |
2, 0 8 9 |
3. 3 % |
||||
| / de l In Un i in t- x |
ke d ins ur an ce |
1 1 |
3 3 1 |
3. 3 % |
||||
| he l fe O i ins t r |
ur an ce |
2 4 |
1 4 0 |
1 7. 0 % |
||||
| l To F Y 2 3 ta |
1 0 5 |
2, 5 6 0 |
% 4. 1 |
|||||
| l To F Y 2 2 ta |
7 7 |
2, 1 3 8 |
% 3. 6 |
Operating figures, net of minorities
| by la In As C t t t ve s m e n s s e s s |
||||||
|---|---|---|---|---|---|---|
| F | Y 2 2 |
F Y 2 3 |
||||
| bn € |
Co m p. |
bn € |
Co m p. |
|||
| l ds To Bo ta n |
4 1. 3 |
% 7 8. 7 |
4 4. 2 |
% 7 9. 4 |
||
| /w l ian ies Ita Go o v |
1 7. 5 |
3 3. 3 % |
1 7. 6 |
3 1. 6 % |
||
| /w l No n-I ian Go ies ta o v |
8. 8 |
1 6. 8 % |
1 0. 3 |
1 8. 5 % |
||
| /w Co te o rp ora |
1 5. 0 |
2 8. 5 % |
1 6. 3 |
2 9. 3 % |
||
| h Ca s |
1. 6 |
3. 1 % |
1. 6 |
2. 9 % |
||
| d ds Eq i Fu ty u an n |
2. 3 |
4. 4 % |
2. 2 |
3. 9 % |
||
| l Re As P. E., H. F. ts, a se |
2. 4 |
4. 5 % |
2. 8 |
4. 9 % |
||
| l Re Es ta te a |
4. 9 |
9. 3 % |
4. 9 |
8. 8 % |
||
| l To ta |
5 2. 6 |
1 0 0 % |
5 5. 7 |
1 0 0 % |
| FV O CI |
FV PL fe NL &L i fre e c ap |
FV PL L fe i seg r. a cc. |
Am ort st co |
he Ot r |
l To ta |
|
|---|---|---|---|---|---|---|
| Go ies v |
6 % 4 |
-- | -- | % 4 |
-- | 0 % 5 |
| Co te rp or a |
% 2 4 |
% 1 |
% 3 |
% 2 |
-- | 2 9 % |
| h Ca s |
-- | -- | -- | -- | 3 % |
3 % |
| d ds Eq i Fu ty an n u |
% 3 |
% 1 |
-- | -- | -- | 4 % |
| l Re As P. E., H. F. ts, a se |
-- | 2 % |
3 % |
-- | -- | 5 % |
| l Re Es ta te a |
-- | -- | % 1 |
8 % |
-- | 9 % |
| l To ta |
3 % 7 |
% 4 |
6 % |
% 1 4 |
3 % |
0 0 % 1 |
| F Y 2 2 |
F Y 2 3 |
||||||
|---|---|---|---|---|---|---|---|
| fe No L i n- |
fe L i |
l To ta |
fe No L i n- |
fe L i |
l To ta |
||
| As ts se |
3. 0 |
6. 0 |
5. 0 |
2. 2 |
6. 0 |
4. 8 |
|
| b l ia i i ies L t |
2. 3 |
3 7. |
8 5. |
2. 2 |
3 7. |
8 5. |
|
| h M ism tc a |
1. 3 |
-0 5 |
-0 0 |
0. 4 |
-0 5 |
-0 3 |
Market value – Operating figures
€m
| 2 2 F Y |
2 3 F Y |
|||||
|---|---|---|---|---|---|---|
| fe i No L n- |
fe i L |
l To ta |
i fe No L n- |
i fe L |
l To ta |
|
| d d de ds Co iv i up on s a n n |
5 0 1 |
1, 1 8 1 |
1, 7 2 3 |
5 2 5 |
1, 2 1 5 |
1, 7 9 8 |
| l d Y ie |
3. 6 % |
3. 2 % |
3. 3 % |
4. 0 % |
3. 2 % |
3. 4 % |
| / / l d l d g los Re ize ize ins a un re a a se s |
-7 1 4 |
-2 7 6 |
-1 0 1 5 , |
1 1 8 |
7 9 |
1 9 4 |
| l d Y ie |
-5 2 % |
-0 7 % |
-2 0 % |
0. 9 % |
0. 2 % |
0. 4 % |
| l To ta |
-2 1 3 |
9 0 6 |
7 0 9 |
6 4 3 |
1, 2 9 4 |
1, 9 9 2 |
| l d Y ie |
-1 6 % |
2. 5 % |
1. 4 % |
% 4. 9 |
% 3. 4 |
% 3. 8 |
FY22 total investment yield under IAS39 was 3.1%, o/w 3.6% Non-Life and 3.0% Life.
Investment yields on a yearly basisOperating figures
Real Estate Investment Portfolio (2,901 €m) Details
35%(1,002)
20%(577)
13%(386)
12%(359)
8%(244)
Breakdown by Cluster
15
Other citiesRomeOther RE Inv.FlorenceBolognaTurin
€m
| F Y 2 2 |
F Y 2 3 |
|
|---|---|---|
| de d ha ( ) D iv i D P S € n p er s re |
0. 3 7 0 |
0. 3 8 0 |
| l d iv i de ds To ta n |
2 6 5 |
2 7 3 |
| ( ) l l Lo G A A P n t r t t. ca e es u es |
3 6 3 |
3 7 8 |
| io Pa t r t y- ou a |
% 7 3 |
% 7 2 |
| de d y l d iv i ie D n |
% 7. 5 a |
b 6. 6 % |
| 2 2 F Y |
2 3 F Y |
|
|---|---|---|
| ( ) iv i de d ha D D P S € n p er s re |
0. 1 6 0 |
0. 1 6 5 |
| l d de ds To iv i ta n |
4 5 3 |
4 6 7 |
| l l ( ) Lo G A A P n t r t t. ca e es u es |
1 4 5 |
6 2 4 |
| Pa io t r t y- ou a |
-- | 7 5 % |
| de d y l d D iv i ie n |
% 6. 4 a |
b % 6. 9 |
a Calculated on the share price of 9 February 2023Calculated on the share price of 15 February 2023
€bn
Group consolidated Solvency 2 ratio of the insurance sector (excl. OF and SCR contribution due to companies of the financial sector) +1.1 p.p. vs. 9M23
b Eligible Own Funds in excess of Solvency Capital Requirements
Figures net of dividend distribution proposal
€m
| €m | l in Ba se e 2 0 2 1 |
F Y 2 2 |
F Y 2 3 |
|---|---|---|---|
| f p S ha du i h ts t re o ro c w iro l a d ia l ta en v nm en n so c lu va e |
2 5. 9 % |
2 7. 1 % |
2 7. 6 % |
| in fo he F S D Gs t an ce r ( f he ic t o t t am ou n m a inv fo he ) S D Gs tm ts t es en r |
8 6 2 |
1, 1 6 0 |
1, 9 3 4 |
Rationalization Project of the Unipol Group Corporate Structure
1.12022-2024Strategic Plan Goals Tracking
1.2
Appendix
| iv Da Dr t a e n ha l O ic In m n nn e su ra nc e |
l in ing he ice inc in d hr h m h ine lea ing d dy ic ic ing S M Pr tre t to ty t am p r re as e o r a n op er ou g ac rn an na m p r d he by h ly lm ho Sp ing ium ins i t t t ta ts t t e tra ts re a p re m p ay me n m on en w u x co s bu h fro d l a d hy br d de d by he ha l d bu de l Ins ine ig i i j inn ic is i ion t ta t tr t ur an ce ne w s ss g ro w m n ou rn ey s u n rp e o mn nn e m o bs ip ion f he i h he k w i h d ia b le fe d e ion f a da Su 3. 0 Ag M V T P L a M O D v t t t w t t tw t te t o ta cr o re em en ag en cy ne or n ar es an x ns o g re em en n d o ha l a h ic an mn nn e p p ro ac |
|---|---|
| lu i fe le Fo S L -C t cu s a e e y c |
f e fu f i Sa lu l len in l h bu ine i h l l e ion he ing im ba k ing d d ig i l Un He te te t t te t t te to ta as ce n r o xc e ce a s ss w x ns o o p er a p er e r ag en cy, n an ha ls c nn e h f c f he l f p La ig ion to te t tu t un c o am p a ns p ro mo aw ar en es s o cu re o rev en he h f he l fe le f fe f Fu ing i i ic t tre te t ta ts r r s ng n o -cy c o r on sp ec rg e |
| in Ba Bo t nc a s su ra nc e o s g |
f fe ion ie d ba d d d is i bu ion de l w i h in he h ip i h d S O Ac B P E R a B P t t tr t t t tn t w t s c ar r ou se on o r an mo p ar er s ag re em en n ke he ha l o f lar d dr fo d fo he du l p h fu he S in i Ba Po i So io in in ia ip ta t ta to te t tr tn t s re ca p nc a p o e n re rce s r s ar er s r r |
| d hm Be In En ic t o n su ra nc e r e n y |
b l hr h by f ' l l h he lea d l p de # M i i in ion inc ion S I F A in Un ip Re i im ing ion i ty te t t t to ta t t to t u t o : g ra ou g me rg er or p or a o o n w a se p a na a ro v r he lon l s in t te ta to g rm re n ec r l fa f d d de d e f he d l k ha ks # W in ion Ce i M ic i Sa ino Dy ion ica te t tr ta t t tre tw t to e re : g ra o n e n g os a n a a an xp an s o m e ce n s n e or n n ew ing op en s d l ly he la lem # Pr ies ia in im ty ta te to t t t t to op er : s r a p ro ce ss p ur su e sy ne rg es p ec c s se en se c r |
| h & le lu io Te Pe Ev t c o p o n |
loy le f he he d ba ke d by he l da d ~9 0 0 e in io 2 0 2 2- 2 0 2 3 So i i Fu t t t t ty mp ee s g ro up p er c r n d hn log de lop la fo d d l ~3 0 0 €m inv in in 2 0 2 2- 2 0 2 3 ig i isa ion te te to t ta t es c o y ve ne w p rm s an |
| € | F Y 2 2 |
F Y 2 3 |
Cu m F Y 2 2- F Y 2 3 |
Ta t rg e 2 0 2 4 |
|---|---|---|---|---|
| fe i ium No L Pr n- em s |
8, 3 0 4m |
8, 6 1m 5 |
8. 9 bn |
|
| b ine d io i fe Co Ra No L t m n- ( f r ) ins t o ne e |
9 3. 8 % |
9 8. 2 % |
9 2. 6 % |
|
| fe L i Pr ium em s |
5, 3 4 1m |
6, 4 0 9m |
bn 5. 8 |
|
| fe L i P V F P M a |
3. 6 % |
4. 1 % |
3. 5 % |
|
| b l d. l Co i Ne Re No t t ns o su rm |
7 7 4m |
1, 0 6 4m |
1, 8 3 9m |
bn 2. 3 c cu m. |
| de ds D iv i n |
2 6 5m |
2 7 3m |
5 3 8m |
bn 0. 7 5 c cu m. |
| ha f du h S Pr i ts t re o o c w lue En & So Va v. c. |
% 2 7. 1 |
% 2 7. 6 |
% 3 0 |
|
| fo he F ina S D Gs t nc e r |
1, 1 6 0m |
1, 4 9 3m |
bn 1. 3 |
| € | F Y 2 2 |
F Y 2 3 |
Cu m Y 2 2- Y 2 3 F F |
Ta t rg e 2 0 2 4 |
|---|---|---|---|---|
| i fe ium No L Pr n- em s |
8, 3 0 4m |
8, 6 5 1m |
bn 8. 9 |
|
| b d fe Co ine Ra io No L i t m n- ( ) f r ins t o ne e |
9 3. 8 % |
9 8. 2 % |
9 2. 6 % |
|
| fe L i Pr ium em s |
5, 3 4 1m |
6, 4 0 9m |
bn 5. 8 |
|
| fe L i P V F P M a |
3. 6 % |
4. 1 % |
3. 5 % |
|
| b l d. l Co i Ne Re No t t ns o su rm |
7 8 9m |
7 6 6m |
1, 5 5 5m |
bn 2. 3 c cu m. |
| de ds D iv i n |
4 5 3m |
4 6 7m |
9 2 0m |
bn 1. 4 c cu m. |
| ha f du h S Pr i ts t re o o c w lue En & So Va v. c. |
2 7. 1 % |
2 7. 6 % |
3 0 % |
|
| fo he ina S Gs F D t nc e r |
1, 1 6 0m |
1, 4 9 3m |
bn 1. 3 |
FY22 norm. under IFRS4/IAS 39
a Present Value Future Profit Margin
Excluding non-recurring items, in accordance with the plan target
Cumulated figure 2022-2024
Rationalization Project of the Unipol Group Corporate Structure
1.12022-2024Strategic Plan
Goals Tracking
1.2
Appendix
To date
corporate banking and IMEL services (digital wallet and payments technology)
38,061
| K P Is |
||
|---|---|---|
| €m | F Y 2 2 a |
F Y 2 3 |
| Re ve nu es |
3 6 4 |
8 5 4 |
| Co ts s |
-3 4 9 |
-5 4 5 |
| Ca i l g ins ta ts p a o n a sse |
3 4 |
3 5 |
| Ne Op ing M in t t er a ar g |
4 8 |
9 2 |
| E B I T |
4 3 |
8 9 |
| l Ne t r t es u |
3 0 |
2 6 |
2022 figures refer to UnipolRental stand alone
Operating figuresThe merger by incorporation of Sifà into UnipolRental became effective on 1 July 2023
€m
As at 31 December 2023
| Is su e r |
d L is a te |
l am ina No m t ou n |
/ Hy / b. Su Se n. b. |
ier T |
i M tu ty a r |
Co up on |
|---|---|---|---|---|---|---|
| l Un ip Sa i o |
✓ | 5 0 0 |
b. Su |
T ier I I |
M 2 0 2 8 ar, |
3. 8 8 % |
| ip l i Un Sa o |
✓ | 7 5 0 |
b. Hy |
ier T I |
b l Pe tu rp e a |
% 5. 7 5 |
| l Un ip Sa i o |
✓ | 5 0 0 |
b. Hy |
T ier I |
l Pe tu c rp e a |
6. 3 8 % |
| l ip l i To Un Sa S. A. ta o p. |
1, 7 5 0 |
d 5. 3 9 % |
||||
| l Un ip o |
✓ | 1, 0 0 0 |
Se n. |
-- | M 2 0 2 5 ar, |
3. 0 0 % |
| l Un ip o |
✓ | 5 0 0 |
Se n. |
-- | No 2 0 2 7 v, |
3. 5 0 % |
| ( ) ip l Gr d Un Bo o ee n n |
✓ | 0 0 0 1, |
Se n. |
-- | Se 2 0 3 0 p, |
3. 2 % 5 |
| l l ip S. To Un A. ta o p. |
2, 5 0 0 |
d 3. 2 0 % |
||||
| l ip l i l ip l To Un Sa S. A. To Un S. A. ta ta + o p. o p. |
4, 2 5 0 |
a Listed on the Luxembourg Stock Exchangeb1st call date Jun, 2024
1st call date Apr, 2030dAverage coupon calculated on FY23 average stock
€m
As at 31 December 2023
| As ts se |
ia b i l i ies L t |
||
|---|---|---|---|
| iq i d f ina ia l a L ts u nc sse |
1, 4 7 5 |
ior de b Se 2 0 2 5 t n |
1, 0 0 0 |
| ior de b Se 2 0 2 7 t n |
5 0 0 |
||
| bo d Se ior 2 0 3 0 n g re en n |
1, 0 0 0 |
||
| iq i d f ina ia l a L a ts u nc sse |
1, 4 7 5 |
b ina ia l l ia b i l i ies F t nc |
2, 0 0 5 |
Net balance -1,025
Including liquid financial assets pertaining to Unipol S.p.A. and its 100% direct subsidiaries. Also including 85.24% liquid financial assets pertaining to UnipolReCNominal value
As at 31 December 2023
| No te s |
|||
|---|---|---|---|
| ip l i s ha ho l d ing Un Sa o re |
% 8 5. 2 1 |
f. s l de i 2 4 re |
|
| d ha ho l d B P E R ire ing t s c re |
1 0. 5 3 % |
f. s l de i 2 4 re |
|
| d ha ho l d B P S ire ing t s c re |
1 0. 2 1 % |
f. s l de i 2 4 re |
|
| / f l a l b l Ne ina ia ia i i ies t ts t nc sse |
-1 0 2 5 €m , |
f. s l i de 2 8 re |
|
| F Y 2 3 Op ing t ts a er a co s |
2 9 €m |
d d f l. n j ig ing ust sts a e ure ex c on -re cu rr co |
|
| D T A |
2 8 €m 1 |
fer d lat dw l l re l loc l De Ta As ing i ig G A A P set to t - re s r e g oo a nm en a x |
a Difference between value and costs of productionOperating figures
| €m | F Y 2 3 I / FR S1 7 9 |
|---|---|
| l lec Pr ium ion t em co |
1 5, 0 6 0 |
| f No L i n- e |
8, 6 5 1 |
| i f L e |
6, 4 0 9 |
| b Co ine d io Ra t m |
9 8. 2 % |
| l Pr Ta Re t r e- su ep x |
1, 5 6 5 |
| l Co Ne Re t t r ns su ep |
1, 3 3 1 |
| l Gr Ne Re t t r ou p su ep |
1, 1 0 1 |
| de ds D iv i n |
2 7 3 |
| ( ) D P S € |
0. 3 8 0 |
| l To Eq i ta ty u |
9, 7 9 9 |
| ha ho l de ' i S Eq ty re rs u |
7, 9 6 7 |
| ( ) B V P S € |
1 1. 1 1 |
| ( ) lve io So 2 r P I M t nc y a co ns |
% 2 0 0 |
| €m | F Y 2 3 I / FR S1 7 9 |
|---|---|
| l lec Pr ium ion t em co |
1 5, 0 6 0 |
| f i No L n- e |
8, 6 5 1 |
| i f L e |
6, 4 0 9 |
| Co b ine d io Ra t m |
9 8. 2 % |
| l Pr Ta Re t r e- su ep x |
1, 0 1 9 |
| l Co Ne Re t t r ns su ep |
7 6 6 |
| l Gr Ne Re t t r ou p su ep |
0 0 7 |
| de ds D iv i n |
4 6 7 |
| ( ) D P S € |
0. 1 6 5 |
| l i To Eq ta ty u |
3 0 7, 7 |
| ha ho l de ' S Eq i ty re rs u |
7, 0 2 6 |
| ( ) B V P S € |
2. 3 1 |
| ( ) lve io So 2 r t nc y a co ns . e c. ca p. |
% 2 8 8 |
Rationalization Project of the Unipol Group Corporate Structure
1.12022-2024Strategic Plan Goals Tracking
1.2
Appendix
This presentation does not constitute or form any part of an offer to exchange or purchase, or solicitation of an offer to buy or exchange, any securities. Any such offer or solicitation will be made only pursuant to an official offer documentation approved by the appropriate regulators.
The Offer is launched in Italy, since the Shares are listed on Euronext Milan, organised and managed by Borsa Italiana S.p.A., and it is addressed, without discrimination and on equal terms, to all shareholders of the Issuer.
As of the date of this document, the Offer is not promoted or disclosed, directly or indirectly, in the United States of America, Australia, Canada, Japan or in any other Country in which the Offer is not permitted in the absence of authorisation by the competent local authorities or is in breach of rules or regulations (the "Other Countries"), nor by using any means of communication or international commerce (including, without limitation, the postal network, fax, telex, e-mail, telephone and internet) of the United States of America, Australia, Canada, Japan or of the Other Countries or any facility of any kind of the financial intermediaries of the United States of America, Australia, Canada, Japan or the Other Countries, or in any other manner.
Copy of any document relating to the Offer (including the Offer Document), are not and shall not be sent, nor in any way transmitted, or in any way distributed, directly or indirectly, in the United States of America, in Australia, in Canada, in Japan or in the Other Countries. No person receiving the above documents shall distribute, send or dispatch them (either by post or by any other means or instrument of communication or international commerce) in the United States of America, Australia, Canada, Japan or the Other Countries.This document is accessible in or from the United Kingdom only: (i) by persons who have professional investment experience falling within the scope of Section 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as subsequently amended (the "Order") or (ii) by high net worth companies and other persons to whom this document may lawfully be transmitted to, as they fall within the scope of Section 49(2), paragraphs (a) through (d), of the Order (all such persons are jointly referred to as "Relevant Persons"). The financial instruments referred to in this document are available only to the Relevant Persons (and any invitation, offer, agreement to subscribe, purchase or otherwise acquire such financial instruments shall be addressed only to such Relevant Persons). Any person who is not a Relevant Person should not act or rely on this document or its contents.
This document, as well as any other document relating to the Offer (including the Offer Document) do not constitute and shall not be construed as an offer of financial instruments addressed to persons domiciled and/or resident in the United States of America, Canada, Japan, Australia or in the Other Countries. No instrument may be offered or sold in the United States of America, Australia, Canada, Japan or in the Other Countries without specific authorisation in accordance with the applicable provisions of the local laws of such Countries or of the Other Countries or waiver of such provisions.
Acceptance to the Offer by persons residing in countries other than Italy may be subject to specific obligations or restrictions provided for by laws or regulations. It is the sole responsibility of the addressees of the Offer to comply with such provisions and, therefore, before accepting the Offer, to verify their existence and applicability by contacting their consultants. Any acceptance of the Offer resulting from solicitation activities carried out in breach of the above limitations shall not be accepted.
Note: please refer to the notice pursuant to Article 102 of Legislative Decree No. 58 of 24 February 1998 for further information on the PVTO
classes of listed shares
| 2 0 2 1 |
f he l o f d Ac is i io ia ia -S A I G Fo t t t q u n o c o n ro n r ro u p |
|
|---|---|---|
| l d ( f d la l ) 4 is ie Pr in Fo ia -S i, M i As icu io i, Un ip te co m p an s em a n ra a no s ra z n o , |
||
| l d ha ( l o d. l p f., f d d. d 8 is Un ip Un ip Pr in Fo ia ia- Sa i o Fo ia ia- Sa i s A, te s re s o r o re em a n r r n r av , , , |
||
| d la d. la ) Fo ia ia- Sa i s B, M i M i n r av no o r no sa v. , |
||
| 2 0 1 4 |
f l S ip S i U t t a r o n o a |
|
| l d ( l a d l ) 2 is ie Un ip Un ip Sa i te co m p an s o n o |
||
| l d ha ( l o d. l p f, l d. l l ) 5 is Un ip Un ip Un ip Sa i o Un ip Sa i s A, Un ip Sa i s B te s re s o r o re o r o av o av , , |
||
| 2 0 1 5 |
io f ip l p f., ip l i s d ha in d in ha C U U S A B o nv e rs n o n o re n o a av a n s av s re s o r a ry s re s |
|
| ( ) l is d ie ip l a d ip l i 2 Un Un Sa te co m p an s o n o |
||
| l ha ( l o l ) 2 is d ip d. ip Sa i o d. Un Un te s re s o r o r , |
||
| 2 0 1 7 |
l f he io iza io in Ra t t t t na n o su ra nc e s e c o r |
|
| 2 0 1 8 |
l s l ls ke lu d l Un ip i in Un i Sa L in Ar Un ip Sa i ts ta te to o e s s ea r a n ca o , |
|
| l a ho l d l le d f he bu Un ip in Un ip Sa i in in in t t o s p ur e g, o a g co m p an y o o p er a g s es s |
||
| 2 0 9 1 |
le f ip l S U Ba a o n o nc a |
|
| l fo d bu Un ip Gr in in o ou p cu se on su ra nc e s es s |
||
| 2 0 9 1 |
lu io f he ic fra k f he Ev G t t t t t o n o s ra e g m ew o r o ro u p |
|
| 2 0 2 3 |
f f f is i io % d % Ac 1 9. 8 5 B P E R 1 9. 7 3 B P S O t q u n o o an o |
|
| 2 0 2 4 |
i l – i l i U U S n p o n p o a m e r g e r |
|
| l d l d h 1 i 1 i t t s e c o m p a n y, s e s a r e |
The transaction is aimed at:
In the context of the merger by incorporation of UnipolSai into Unipol, the exchange ratio offered is equal to 3 newly-issued Unipol shares for every 10 UnipolSai shares offered in exchange
| h M t o n |
h d W ig ic t e e av e ra g e p r e ha ( ) S in Eu p e r re ro |
i f fe b he D tw t re nc e e e e n d he ic t p r e a n a ve ra g e ha ( ) ic S in Eu p r e p e r re ro |
f fe b D i tw re nc e e e e n d ic ic p r e a n av e ra g e p r e ha ( fro S in % p e r re m ) ic av e ra g e p r e |
|---|---|---|---|
| br ( las 1 5 Fe 2 0 2 4 t ua ry d da be fo he in tr t a g re y da f t te an no un ce m en o he ) V O P T t |
2. 3 9 8 |
0. 3 0 2 |
1 2. 6 % |
| h ice 1- t m on p r av er ag e |
2. 4 2 2 |
0. 2 7 8 |
% 1 1. 5 |
| h 3- ice t m on p r av er ag e |
2. 3 5 0 |
0. 3 5 0 |
1 4. 9 % |
| h 6- ice t m on p r av er ag e |
2. 3 2 2 |
0. 3 7 8 |
1 6. 3 % |
| h 1 2- ice t m on p r av er ag e |
2. 3 2 5 |
0. 3 7 5 |
1 6. 1 % |
Processing of Bloomberg data as at 15 February 2024
Adriano DonatiHead of Investor Relations
[email protected]@unipolsai.it
Carlo LatiniEleonora RoncuzziGiancarlo LanaGiuseppe GiulianiSilvia Tonioli
Tel +39 051 507 6333 Tel +39 051 507 7063 Tel +39 011 654 2088 Tel +39 051 507 7218Tel +39 051 507 2371
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