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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Illimity Bank SpA | BIT:ILTY | Italy | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.074 | -1.90% | 3.814 | 3.81 | 3.896 | 3.95 | 3.802 | 3.90 | 1,093,201 | 17:00:00 |
illimity fully achieved its 2021 profit guidance, posting a net profit of 65.6 million euro for 2021, more than double the figure for 2020 (31.1 million euro). ROE for 2021 amounted to ca. 10%. Net profit for the fourth quarter of 2021 rose to 19.4 million euro (from 18.8 million euro in the third quarter of 2021, +3% q/q and +187% over net profit of 6.8 million euro for the fourth quarter of 2020).
In detail, the year was characterised by:
Moreover, 2021 saw the foundations laid for solid growth in profits and profitability also in 2022, in line with the guidelines for growth included in the Strategic Plan:
Corrado Passera, CEO and Founder of illimity, commented: “We ended 2021 with considerable satisfaction and are starting 2022 with a great deal of confidence.
"A new phase of further growth is beginning in 2022. The performing, restructuring and distressed credit markets on which we have been concentrating since we were first established are even bigger than we initially envisaged and we have shown that we have strong and sustainable competitive advantages. Our growth will be further supported by three highly technological initiatives that are already operative today: b-ilty (the first complete digital platform for credit and financial services for SMEs), our proptech NewCo (a highly innovative proptech that will begin operations over the next few weeks) and HYPE (Italy’s leading fintech). These initiatives all have in common the fact that they serve large markets and meet unsatisfied needs, that they have a highly scalable operating model and that they can open up to partnerships with key players.
Lastly, the synergies we will gradually unleash with the ION Group in all our business areas will bring further acceleration to illimity’s growth path.
Our results and the work we have carried out to date enable us to be confident that the growth and profitability objectives included in the 2021-25 Strategic Plan (net profit of >240 million euro) are fully within our reach.”
For more details view the entire announcement:https://assets.ctfassets.net/0ei02du1nnrl/6oTUyP7z2SEFn2N32YkE0v/820cb3f91ba51badc6012ea738b13574/illimity_4Q21_FY21_Results.pdf
For further information:
Investor RelationsSilvia Benzi: +39.349.7846537 - +44.7741.464948 - silvia.benzi@illimity.com
Press & Communication illimity | |
Isabella Falautano, Francesca D’Amico | Sara Balzarotti, Ad Hoc Communication Advisors |
+39.340.1989762 press@illimity.com | +39.335.1415584 sara.balzarotti@ahca.it |
Wire Service Contact:InvestorWire (IW)Los Angeles, Californiawww.InvestorWire.com212.418.1217 OfficeEditor@InvestorWire.com
____________________1 ROE – Return on Equity: calculated as net profit for the year as a percentage of average shareholders’ equity during the year (1/1-31/12/2021).2 Calculated as the ratio between loan loss provisions and net organic loans to customers at 31 December 2021 (1,704 million euro) for the segments Factoring, Cross-over, Acquisition Finance, performing Turnaround (including returns to performing loans), the loan portfolio of the former Banca Interprovinciale and Senior Financing to non-financial investors in distressed loans – though excluding UTP loans purchased as part of the Turnaround business and investments in distressed loan portfolios.
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