2017 RESULTS SHOW STRONG PERFORMANCE, IN LINE WITH THE PLAN’S AMBITIONS
1 Including new lending by third parties
2 The 2016 consolidated balance sheet and income statement figures were subject to restatement
3 The consolidated equity is equal to €35.9 billion, of which €23.1 billion pertaining to the Group and €12.8 billion pertaining to Non-controlling Interests
Milan, 28 March 2018 h 12:15 pm - The Board of Directors of Cassa depositi e prestiti S.p.A. (CDP) approved today the draft separate financial statements and the consolidated financial statements at 31 December 2017, as well as the 2017 consolidated non-financial statement of the CDP Group pursuant to Legislative Decree no. 254/2016. The draft financial statements shall be submitted for the approval to the Shareholders’ Meeting convened on 23 May 2018 and on 20 June 2018, respectively on first and second call (instead of on 16 May 2018 as previously announced).
NEW LENDING IN 2017 AND PROGRESS OF THE BUSINESS PLAN
New lending by the CDP Group
The results for 2017 confirmed the key development role of the CDP Group in support of the Italian economy. New lending managed by the Group amounted to about € 33.7 billion, for a total of € 58 billion in overall investments activated (with a multiple of 1.7x), mainly through financing, investments and guarantees. The volume of new lending increased by around 20% compared with the previous financial year and was fully in line with the target progress set in the 2016-2020 Business Plan. New lending was allocated as follows:
New lending by the Parent Company CDP S.p.A.
The contribution of the Parent Company CDP S.p.A. alone to new lending managed accounted for almost € 19 billion, up by over 21% compared to 2016, with over € 41.5 billion in investments activated (with a multiple of 2.2x). Resources were mainly directed towards the drivers of Italy’s economic development. Indeed, CDP has confirmed its key position in support of:
2017 FINANCIAL RESULTS
Parent Company CDP S.p.A.
Economic performance also made it possible to strengthen the capital base of certain CDP subsidiaries, increasing the profit not distributed to the Parent Company. This caused a drop in the dividends received in 2017, which amounted to € 1.4 billion (€ 1.6 billion in 2016).
Assets totalled around € 367.3 billion, marking a 2.7% increase on the previous year:
As regards liabilities:
The consolidated financial statements closed with total assets slightly up on the previous financial year, amounting to € 420 billion (+ 2.2%). Cash and cash equivalents reached € 178.8 billion (+ 8.1% on 2016).
Consolidated equity strengthened further to € 35.9 billion (€ 35.8 billion in 2016), of which € 23.1 billion pertaining to the Group (+ € 0.4 billion compared to 2016).