Press release

CDP: first six months net income €1.15 billion, +25%

Net interest income €1.17 billion, +209% Resources mobilised €6.9 billion, +28% First half of 2016 ended with a CDP net income of €1.15 billion, +25% compared with the first half of 2015, equal to €916 million.

Rome, 3 August 2016

The Board of Directors of Cassa Depositi e Prestiti Spa (CDP) today approved the Consolidated Interim Financial Report at 30 June 2016.

  • CDP financial highlights:
    • Resources mobilised: +28% to €6.9 billion
    • Net interest income: +209% to €1.17 billion
    • Net income +25% to €1.15 billion
    • Assets: +7.2% to €370 billion
    • Shareholders’ equity: +2% to €19.9 billion

Resources mobilised and managed

Resources mobilised and managed rose by 28% to €6.9 billion in the first half of 2016.

CDP confirms its role as a National Promotional Institution, deploying €3.6 billion (+22% compared with the first half of 2015) in support of enterprises and €2.1 billion (+€2 billion in the first half of 2015) to support international expansion. Resources channelled to public entities amounted to €1.2 billion, a decrease on the first half of 2015 which included two significant operations totalling €1.1 billion.  



Despite the persistent uncertainty in the market, CDP recorded a sharp improvement in all components of its performance, and did so without the contribution of non-recurring revenue. This success was attributable in part to the effective management of liquidity, and optimisation of all forms of funding.

Net income for the period rose by €231 million compared with the first half of 2015 to about €1.15 billion, a result achieved with the contribution of non-recurring revenue, which in 2015 had amounted to more than €200 million.

Net interest income totalled about €1.17 billion, +209% compared with €380 million posted in the first half of 2015. This rise was mainly attributable to the management of liquidity and the securities portfolio with a view to supporting profitability while containing the adverse impact of falling interest rates.


Financial position

The period closed with assets of about €370 billion (+7.2% on the end of 2015). The stock of liquidity reached €173 billion (+2.5%). Total funding amounted to €346 billion (+7.2% on the end of 2015), of which €251 billion in postal funding, broadly unchanged on the end of 2015.

CDP continues to enjoy a sound financial position, with shareholders’ equity of €19.9 billion, up 2.2% on the end of 2015.



Resources mobilised and managed +14% to €13.2 billion

Net income: €635 million

Assets: +6% to €422 billion

Shareholders’ Equity: -0.9% to €33.3 billion


Resources mobilised and managed

Resources mobilised and managed by the Group in the first half of 2016 affirms support provided to the country’s economy: resources amounted to about €13.2 billion, up 14% on the same period of 2015.


The Group’s net income came to about €635 million, of which €12 million pertaining to the parent company which reflects the negative results for the period by the Eni Group.


Total assets rose to about €422 billion (+6% on 31 December 2015). Liquidity reached €177 billion, up 2.4% compared with the end of 2015. Shareholders’ equity amounted to about €33.3 billion (of which €19.3 billion attributable to the parent company), confirming a sound financial position.

The manager responsible for preparing the corporate financial reports, Fabrizio Palermo, certifies 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.

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