Cassa depositi e prestiti Spa Ordinary Shareholders’ Meeting: 2013 financial statements approved; Appointed Luciano Barsotti standing auditor and Giandomenico Genta alternate auditor

Rome,  30-5-2014 — /EuropaWire/ — Cassa depositi e prestiti Spa (CDP) announces that the Ordinary Shareholders’ Meeting today approved the 2013 financial statements. The 2013 consolidated financial statements were also presented during the meeting.

The Ordinary Shareholders’ Meeting also appointed new members of the Board of Auditors, approving Luciano Barsotti as a standing  auditor  and Giandomenico Genta as alternate auditor.
Resources mobilized and managed

New resources mobilized and managed (loans, investments, guarantees) by CDP Group to support public entities, infrastructure and businesses in 2013 amounted to €28 billion, up 22% from 2012.

The CDP parent company mobilized and managed resources totalling €16 billion, up 27% from €12.8 billion in 2012. CDP thus ends an especially challenging three years for Italy, and the years of its 2011-2013 Business Plan, having exceeded the targets for its contribution to growth: €56 billion, compared with the planned €43 billion.

Financial Results and Dividends Approved

Performance was in line with the targets set out in the 2011-2013 Business Plan, despite the substantial deterioration in market conditions. With a contraction of 28% in net interest income, to €2.5 billion, as a result of the expected normalization of the spread between lending and funding rates, as a consequence of the interest rate trends, net income amounted to €2.3 billion, with a reduction more contained than the spread due to a positive contribution of dividends from companies in CDP’s portfolio.

The results allow for the dividend payout of around **853 million of euros.

Consolidated results

The consolidated financial statements at 31 December 2013 show net income pertaining to the shareholders of the parent company in the amount of €2,501 million, down 14.5% on the performance achieved in 2012. The reduction is attributable to the developments in the net interest income of the parent company discussed above, partly offset by an increase in dividends and income from equity investments, net of the impact of consolidation. Total assets rose to €340,467 million, up 3.5% on 2012, while pertaining to shareholders of the parent company amounted to €19,295 million, up 6.1% on the €18,186 million registered at the end of 2012.

The manager responsible for preparing the corporate financial reports, Andrea Novelli, declares pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Financial Intermediation that the accounting information contained in this press release corresponds to that in the accounting documentation, books and records.

Further information for journalists:
CDP Press Office:
Tel. (+ 39) 064221.4440/3238/2435/2531
ufficio.stampa@cassaddpp.it – www.cassaddpp.it
Head: Lorella Campi
Press officers: Lino Marcotulli, Francesco Mele, Adam Freeman, Pierangelo Bellini

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