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Bilancio Al 30 Giugno 2017 Bozza Bozza LXXI ESERCIZIO Bilancio al 30 giugno 2017 Assemblea dei Soci del 28 ottobre 2017 SOCIETÀ PER AZIONI CAPITALE SOCIALE VERSATO € 440.617.579,00 SEDE SOCIALE IN MILANO - PIAZZETTA ENRICO CUCCIA, 1 ISCRITTA ALL’ALBO DELLE BANCHE CAPOGRUPPO DEL GRUPPO BANCARIO MEDIOBANCA ISCRITTO ALL’ALBO DEI GRUPPI BANCARI Assemblea dei Soci al 28 ottobre 2017 www.mediobanca.com CONSIGLIO DI AMMINISTRAZIONE Scadenza del mandato Renato Pagliaro Presidente 2017 * Maurizia Angelo Comneno Vice Presidente 2017 Marco Tronchetti Provera Vice Presidente 2017 * Alberto Nagel Amministratore Delegato 2017 * Francesco Saverio Vinci Direttore Generale 2017 Tarak Ben Ammar Consigliere 2017 Gilberto Benetton Consigliere 2017 Mauro Bini Consigliere 2017 Marie Bolloré Consigliere 2017 Maurizio Carfagna Consigliere 2017 * Angelo Caso’ Consigliere 2017 Maurizio Costa Consigliere 2017 Vanessa Labérenne Consigliere 2017 Elisabetta Magistretti Consigliere 2017 Alberto Pecci Consigliere 2017 * Gian Luca Sichel Consigliere 2017 * Alexandra Young Consigliere 2017 * Membri del Comitato Esecutivo COLLEGIO SINDACALE Natale Freddi Presidente 2017 Laura Gualtieri Sindaco Effettivo 2017 Gabriele Villa Sindaco Effettivo 2017 Alessandro Trotter Sindaco Supplente 2017 Barbara Negri Sindaco Supplente 2017 Silvia Olivotto Sindaco Supplente 2017 *** Massimo Bertolini Dirigente Preposto alla redazione dei documenti contabili societari e Segretario del Consiglio www.mediobanca.com INDICE Bilancio consolidato Relazione sulla Gestione del Gruppo Mediobanca al 30 giugno 2017 11 Attestazione del Dirigente Preposto 65 Relazione della Società di Revisione 69 Schemi del bilancio 79 Note esplicative ed integrative 89 Parte A - Politiche contabili 92 Parte B - Informazioni sullo Stato patrimoniale consolidato 127 Parte C - Informazioni sul Conto economico consolidato 174 Parte D - Redditività consolidata complessiva 192 Parte E - Informazioni sui rischi e sulle relative politiche di copertura 193 Parte F - Informazioni sul patrimonio consolidato 265 Parte G - Operazioni di aggregazione riguardanti imprese o rami d’azienda 272 Parte H - Operazioni con parti correlate 274 Parte I - Accordi di pagamento basati su propri strumenti patrimoniali 276 Parte L - Informativa di settore 279 *** Assemblea dei Soci del 28 ottobre 2017 Ordine del giorno 285 Indice 5 Bilancio dell’Istituto Relazione sulla Gestione dell’Istituto al 30 giugno 2017 289 Attestazione del Dirigente Preposto 307 Relazione della Società di Revisione 311 Relazione del Collegio Sindacale 319 Schemi del bilancio 339 Note esplicative ed integrative 349 Parte A - Politiche contabili 352 Parte B - Informazioni sullo Stato patrimoniale 381 Parte C - Informazioni sul Conto economico 415 Parte D - Redditività complessiva 429 Parte E - Informazioni sui rischi e sulle relative politiche di copertura 430 Parte F - Informazioni sul patrimonio 485 Parte H - Operazioni con parti correlate 491 Parte I - Accordi di pagamento basati su propri strumenti patrimoniali 493 Tabelle Allegate: Nuovo Stato Patrimoniale riclassificato: riconciliazione 498 Riconciliazione nuove divisioni e vecchie divisioni 501 Schemi di bilancio consolidati 503 Schemi di bilancio della Capogruppo 512 A - Dettaglio, a norma dell’art. 10 della legge 19 marzo 1983, n. 72 dei beni, tuttora in patrimonio, per i quali sono state eseguite rivalutazioni 516 B - Stato patrimoniale e Conto economico delle partecipazioni in imprese del Gruppo (incluse le indirette) 517 C - Prospetto riepilogativo dei dati essenziali dell’ultimo bilancio delle Società collegate (ai sensi dell’art. 2359 del C.C.) 545 D - Corrispettivi di revisione contabile e dei servizi diversi della revisione 555 6 Bilancio Consolidato 30 giugno 2017 2. Nomina del Consiglio di Amministrazione per il triennio 2018-2020 556 3. Nomina del Collegio Sindacale per il triennio 2018-2020 560 4. Politiche di remunerazione 563 5. Aumento del compenso della Società di Revisione per l’incarico di revisione legale dei conti, per il periodo 2017-2021 613 *** Altri Documenti Informativa di Gruppo sulla Sostenibilità 617 Relazione sul Governo Societario e gli Assetti Proprietari 669 Glossario 725 Indice 7 BILANCIO CONSOLIDATO RELAZIONE SULLA GESTIONE DEL GRUPPO MEDIOBANCA AL 30 GIUGNO 2017 RELAZIONE SULLA GESTIONE DEL GRUPPO MEDIOBANCA AL 30 GIUGNO 2017 L’esercizio chiude con un aumento dell’utile netto del 24% a 750,2 milioni che riflette la crescita reddituale di tutte le divisioni del Gruppo, come definite nell’ambito del piano triennale reso pubblico lo scorso novembre. L’utile del Corporate and Investment Banking cresce da 222,8 a 253,9 milioni per le minori rettifiche su crediti ed il contributo dello Specialty Finance (21,6 milioni contro 16 milioni); quello del Consumer Banking balza da 153,8 a 258,2 milioni per l’aumento del margine di interesse (+9,5%) e l’ampia riduzione delle rettifiche sui crediti (-22,1%) connesse al migliorato profilo di rischio del portafoglio. L’apporto del Wealth Management aumenta da 38 a 55 milioni per effetto del consolidamento delle tre recenti acquisizioni (Cairn Capital, le attività retail italiane di Barclays ed il 50% residuo di Banca Esperia). La contribuzione del Principal Investing migliora da 373,2 a 422,1 milioni per le maggiori plusvalenze (161,6 milioni contro 119,8 milioni). Per contro, le Holding Functions registrano una perdita di 241,8 milioni (-189,3 milioni) il cui aumento è attribuibile al margine di interesse (-76,3 milioni contro -33,3 milioni) che sconta l’ampia dotazione di liquidità in un contesto di tassi negativi. L’andamento brillante del Gruppo è riflesso nei ratios patrimoniali che si posizionano ai livelli massimi dall’introduzione di CRR/CRDIV: CET1 al 13,31% e Total Capital al 16,85%. Il risultato della gestione ordinaria di Gruppo, incluse le rettifiche su crediti, cresce nell’esercizio del 16,2% (da 735,8 a 855,2 milioni) con ricavi in aumento del 7,3% (da 2.046,6 a 2.195,6 milioni), pur in una congiuntura di mercato caratterizzata dalla marcata riduzione degli spread di credito e tassi a breve stabilmente negativi; nel dettaglio: – il maggior margine di interesse (+6,7%, da 1.206,7 a 1.287,8 milioni) riflette l’incremento di Consumer Banking (+9,5%, da 746,9 a 818,1 milioni) e Wealth Management (+31%, da 186,4 a 244,1 milioni, in larga parte ascrivibile ai 10 mesi di attività del ramo ex Barclays) ed ha più che compensato la flessione delle Holding Functions (-76,3 milioni contro -33,3 milioni) che mostrano un miglioramento nell’ultimo trimestre; Relazione sulla Gestione 13 – i proventi di tesoreria flettono da 133,1 a 121,3 milioni per minori dividendi AFS (17 milioni contro 29,2 milioni, per le minori dimensioni del portafoglio) ed un calo del contributo fixed income CIB (48,9 milioni contro 64,7 milioni); – le commissioni ed altri proventi crescono del 16,1% (da 450,1 a 522,6 milioni) per gli apporti di CheBanca! (da 43,4 a 68,9 milioni, incluso 22,5 milioni ex Barclays), Specialty finance (da 20 a 42,5 milioni), Cairn Capital (da 8,9 a 27,5 milioni) e Banca Esperia (+18 milioni il contributo del IV trimestre consolidata integralmente); stabile il Wholesale Banking (207,4 milioni) ed in lieve calo il Consumer Banking (118,1 milioni contro 126,1 milioni); – l’utile delle società consolidate ad equity, pressoché integralmente riconducibile ad Assicurazioni Generali, aumenta da 256,7 a 263,9 milioni. I costi di struttura crescono del 14,8% (da 891,9 a 1.023,7 milioni), quasi interamente attribuibili alle entità neo-consolidate; a perimetro omogeneo l’incremento è di circa il 2,5%, concentrato nelle spese del personale. Le rettifiche su crediti si riducono del 24,4% (da 418,9 a 316,7 milioni) per il generalizzato miglioramento del profilo di rischio del portafoglio, in particolare nel Consumer (da 354,4 a 276,2 milioni) e nel Wholesale Banking (15 milioni di riprese contro 28,5 milioni di rettifiche). Il costo del rischio si abbassa pertanto da 124 a 87 bps con tassi di copertura che si mantengono sui livelli massimi: attività deteriorate al 54,6% e in bonis all’1,1%. Gli utili netti del portafoglio titoli aumentano a 168,6 milioni (da 124,2 milioni) ed includono le plusvalenze sulla vendita di metà della partecipazione in Atlantia (110,4 milioni) e delle azioni Koening & Bauer (28 milioni); le svalutazioni di altre attività finanziarie più che si dimezzano da 19,4 a 7,9 milioni, equamente suddivise tra titoli del banking book ed azioni. La voce altre partite (-101,9 milioni contro -104,3 milioni) si riferisce prevalentemente a 49,6 milioni di contributo straordinario al Fondo di risoluzione bancario a favore di Banca Marche, Popolare Etruria, Casse di Risparmio di Chieti e Ferrara; 25,3 milioni di contributi ordinari al Fondo di risoluzione bancario europeo; 13 milioni per la quota al fondo tutela dei depositi (DGS) relativa all’anno 2016 ed al primo semestre 2017; 24,9 milioni di spese per la definizione del contenzioso fiscale sul leasing nautico (con effetto pressoché 14 Bilancio Consolidato 30 giugno 2017 azzerato tenuto conto della quota di terzi e dell’utilizzo per 15 milioni del fondo rischi della Capogruppo); 19 milioni di oneri di integrazione (di cui 14,9 milioni per l’integrazione di Banca Esperia e 2,7 milioni per il piano di SelmaBPM). L’acquisizione del ramo Barclays Italia ha generato un provento netto di 15,2 milioni, nell’ambito dell’allocazione del badwill incassato per l’acquisto (240 milioni), saldo tra il fair value degli attivi e passivi emersi in sede di purchase price allocation (98,3 milioni) e gli oneri di ristrutturazione ed
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