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

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

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

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MEDIOBANCA S.p.A. PROFIT AND LOSS ACCOUNT *Profit <strong>and</strong> loss account12 mths to <strong>30</strong>/6/11 12 mths to <strong>30</strong>/6/1010. Interest <strong>and</strong> similar income 1,765.4 1,824.220. Interest expense <strong>and</strong> similar charges (1,453.7) (1,473.2)<strong>30</strong>. Net interest income 311.7 351.040. Fee <strong>and</strong> commission income <strong>30</strong>0.3 <strong>30</strong>3.950. Fee <strong>and</strong> commission expense (16.0) (7.0)60. Net fee <strong>and</strong> commission income 284.3 296.970. Dividends <strong>and</strong> similar income 214.8 138.680. Net trading income 33.3 9.990. Net hedging income (expense) (1.0) (16.0)100. Gain (loss) on disposal of: 29.3 158.3a) loans <strong>and</strong> receivables 0.6 —b) AFS securities 11.3 138.8c) financial <strong>as</strong>sets held to m<strong>at</strong>urity (3.3) —d) other financial liabilities 20.7 19.5120. Total income 872.4 938.71<strong>30</strong>. Adjustments for impairment to: (155.5) (261.3)a) loans <strong>and</strong> receivables 6.4 (57.7)b) AFS securities (145.0) (148.0)c) financial <strong>as</strong>sets held to m<strong>at</strong>urity (10.8) (1.4)d) other financial liabilities (6.1) (54.2)140. Net income from financial oper<strong>at</strong>ions 716.9 677.4180. Administr<strong>at</strong>ive expenses: (<strong>30</strong>9.8) (271.6)a) personnel costs (221.8) (193.4)b) other administr<strong>at</strong>ive expenses (88.0) (78.2)190. Net transfers to provisions for liabilities <strong>and</strong> charges — —200. Net adjustments to property, plant <strong>and</strong> equipment (3.0) (3.1)210. Net adjustments to intangible <strong>as</strong>sets (10.0) (6.0)of which: goodwill — —220. Other oper<strong>at</strong>ing income (expenses) 18.6 11.92<strong>30</strong>. Oper<strong>at</strong>ing costs (<strong>30</strong>4.2) (268.8)240. Profit (loss) from equity investments (158.6) (17.4)270. Gain (loss) on disposal of investments — (0.1)280. Profit (loss) before tax on ordinary activities 254.1 391.1290. Income tax on ordinary activities for the year (127.0) (147.0)<strong>30</strong>0. Profit (loss) after tax on ordinary activities 127.1 244.13<strong>30</strong>. Net profit (loss) for the period 127.1 244.1* Figures in €mThe profit <strong>and</strong> loss account reported on p. 245 reflects the following rest<strong>at</strong>ements:— Net interest income includes the result of funding <strong>and</strong> lending hedging activity (€3.5m <strong>and</strong> €1.1m respectively), plus the margins on swaps reported underHeading 80 (amounting to minus €53.6m <strong>and</strong> minus €2.6m respectively), net of interest expense on securities lending totalling minus €1.1m <strong>and</strong> €0.7m,accounted for <strong>as</strong> Net trading income;— Amounts under Heading 190 have been rest<strong>at</strong>ed <strong>as</strong> Net fee <strong>and</strong> commission income, save for amounts refunded/recovered totalling €0.3m <strong>and</strong> €5.1mrespectively which net oper<strong>at</strong>ing.€m440 –

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