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Banca Mediolanum
Earnings Release • Jan 9, 2026
4204_rns_2026-01-09_dc82650b-4f05-4e72-a4c7-21c58477f40d.pdf
Earnings Release
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Data/Ora Ricezione : 9 Gennaio 2026 09:54:56
Oggetto : Risultati commerciali del Gruppo Mediolanum
(Versione in Inglese)
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PRESS RELEASE
In 2025, all-time flows records were surpassed: Total Net Inflows of € 11.64 bn (+11% y/y) and Net inflows into Managed Assets of € 9.06 bn (+18% y/y).
Banca Mediolanum S.p.A. announces the business results for December 2025: € 1.66 billion, of which:
- Total net inflows: € 1.24 billion, € 11.64 billion YTD
- Net inflows into managed assets: € 885 million, € 9.06 billion YTD
- Loans granted: € 399 million, € 3.96 billion YTD
- General insurance premiums: € 26 million, € 246 million YTD
Banca Mediolanum also notes that, thanks to favourable market performance and effective investment management in 2025, the contribution of performance fees to the Group's companies for the year just ended is estimated at around € 256 million, of which € 63.3 million was already recognised in the first nine months and approximately € 193 million will be recognised in the fourth quarter.
It should be noted that, in the same period, following Judgment No. 599 of August 1, 2025 of the European Court of Justice, the following are expected: (i) the recovery of IRAP taxes (Italian regional production tax) paid by the parent company for the years 2012–2024 of € 140.1 million and (ii) lower IRAP taxes for 2025 amounting to € 17.2 million.
Pursuant to Law No. 199 of December 30, 2025 (Italy's 2026 Budget Law) a payment of € 18.5 million is expected instead, in order to release the so-called windfall-profits reserve set aside in 2023.
Massimo Doris, CEO of Banca Mediolanum, commented business results: "December's excellent figures cap off a year to remember, with new all-time highs across all net inflow metrics versus an already very strong 2024. These results reflect the dedication of Banca Mediolanum's Family Bankers, who are alongside customers every day to support them in the financial decisions that shape their lives, even in a year marked by significant global complexity and constant change. In this context, our role is to help households build a more solid future through high-quality advice and a model that keeps customers' needs at its core. This trust is reflected in another record year for Banca Mediolanum: € 11.64 billion of total net inflows in 2025 exceeded the prior year by 11%, while € 9.06 billion of net inflows into managed assets surpassed the 2024 all-time record by 18%".
Doris concluded: "We take on 2026 with a rational and optimistic approach, continuing to do our best for the satisfaction of all our stakeholders, in line with the long-term vision that sets us apart."
Total business results for December 2025:
| € mn | Dec. 2025 |
YTD 2025 |
YTD 2024 |
|---|---|---|---|
| TOTAL BUSINESS RESULTS OF THE GROUP | 1,665 | 15,841 | 13,742 |
| - Total Net Inflows |
1,239 | 11,639 | 10,443 |
| Net Inflows into Managed Assets | 885 | 9,056 | 7,643 |
| o/w Mutual Funds, U-L & Managed Accounts | 1,091 | 9,347 | 7,328 |
| Net Inflows into Administered Assets | 354 | 2,583 | 2,800 |
| - Total Loans Granted |
399 | 3,956 | 3,092 |
| - General Insurance Premiums |
26 | 246 | 206 |
Preliminary data subject to change
Basiglio - Milano 3 City, January 9, 2026
Contacts:
Media & Public Relations Investor Relations Roberto De AgostiniAlessandra Lanzone Tel +39 02 9049 2100 Tel +39 02 9049 2039 Mob +39 348 8100 802 Mob +39 335 5684 808
e-mail: [email protected] e-mail: [email protected]