Annual Accounts and Report as at 30 June 2011 Draft - Mediobanca

Mediobanca International (Luxembourg) SA employs 8 staff at its officesin Luxembourg, two of whom are seconded from Mediobanca S.p.A.— Prominvestment in liquidation, Rome (100%-owned by Mediobanca):Prominvestment reported a net loss of €738,000 (€520,000), after netfee and commission income of €351,000 (€519,000).The company employs 6 staff.— MB Securities USA LLC., New York (securities brokerage; 100%-owned by Mediobanca): the company, which collects orders fromcustomers, reported a profit of $946,000, compared with $12,000 lastyear, on the back of lower operating costs (down from $2.3m to $1.8m)and net fee and commission income up from $2.4m to $2.7m.The company employs 4 staff, one of whom is seconded fromMediobanca S.p.A.— SelmaBipiemme Leasing S.p.A., Milan (leasing; 60%-owned byCompass): this company made a slight loss of €461,700 in the twelvemonths ended 30 June 2011, representing a significant improvementon the last two years when losses of €7.5m and €7.7m respectivelywere reported. This result was boosted by lower loan loss provisions,which were down from €32.6m to €16.8m, against revenues whichheld up well at €77.1m (€79.4m).During the period under review, the company executed 6,729 leasesfor goods worth a total of €496.6m, compared with 6,687 leases worth€559.1m last year. At the reporting date, amounts leased to customerstotalled €2,368.2m, down 4.3% on the figure recorded last year(€2,474m).The company employs a total of 118 staff.— Palladio Leasing S.p.A., Vicenza 95%-owned via SelmaBipiemmeLeasing, the other shares being held by Palladio itself): PalladioLeasing’s accounts for the twelve months ended 30 June 2011 show anet profit of €6m, up slightly on the €5m recorded last year, afteradjustments to receivables of €7.6m (€5.9m) and tax of €3.7m(€3.3m).38 –