Shareholders' meeting approves 2010 Financial Statements and appoints new statutory audit firm
Press release

Shareholders' meeting approves 2010 Financial Statements and appoints new statutory audit firm

Rome, 25 may 2011

Cassa depositi e prestiti (CDP) announces that the Shareholders’ Meeting met today to approve the separate financial statements for 2010. The consolidated financial statements, which also reflect the results of TERNA Spa and CDP Investimenti SGR Spa, were presented during the meeting too.
The Shareholders' Meeting also awarded the engagement for the statutory auditing of the accounts for the period from 1 January 2011 to 31 December 2019 to PricewaterhouseCoopers S.p.A., approving the proposal submitted by the Board of Auditors.

Financial statement approval and dividend payment 
The 2010 financial year closed with net income of €2,743 million, up 59% compared with 2009 (€1,725 million). Net income reflects a capital gain of about €1 billion on the share exchange with the MEF: excluding this factor and the effect of others that had positively impacted performance in 2009, net income still rose by 8%. This performance enables us to distribute a dividend of €700 million and, in addition to the allocation of €137.1 million to the legal reserve, to strengthen capital further with an allocation of about €1.9 billion." 

Developments in the main aggregates of CDP's separate financial statements were as follows.


SUMMARY FIGURES (millions of euros)          
  2010       2009

Total assets 249.183       227.054
Cash and cash equivalents and interbank deposits 127.891       118.380
Loans to customers and banks 91.953       85.178
Equity investments and shares 18.652       18.271
Postal funding 207.324       190.785
Other direct funding 16.386       17.396
Shareholders' equity 13.726       12.170
Net interest income 1.659       1.994
Gross income 2.297       2.162
Operating income 2.219       2.091
Net income 2.743       1.725
Average number of employees 424       411
NEW LENDING 2010          
          (billions of euros)
Loans to public entities         5.8
Enterprises         4.3
Enterprises and public-private partnership to develop infrastructure         1.6
Total         11.7


Summary of Consolidated Financial Statements 
The consolidated financial statements at 31 December 2010 show net income pertaining to the shareholders of the parent company in the amount of €2,344 million, up 16% compared with 2009. Total assets reached €260,937 million (+10%) while shareholders' equity amounted to €13,913 million, a rise of 8%.


The manager responsible for preparing the corporate financial reports, Andrea Novelli, declares 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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