Cash flow UniCredit S.p.A.

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UCG

IT0005239360

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Published financial data: UNICREDIT S.P.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Interest Income On Loans	13.18B	12.7B	16.34B	33.92B	34.84B
Interest Income On Investments	208M	351M	437M	305M	468M
Interest Income, Total	13.39B	13.05B	16.78B	34.22B	35.31B
Interest On Deposits	3.68B	3.61B	5.72B	19.57B	20.17B
Interest Expense, Total	3.68B	3.61B	5.72B	19.57B	20.17B
Net Interest Income	9.7B	9.44B	11.06B	14.65B	15.14B
Income From Trading Activities	678M	1.47B	859M	2.26B	2.89B
Gain (Loss) on Sale of Loans	80M	53M	133M	199M	-62M
Gain (Loss) on Sale of Invest. & Securities - (Rev)	-456M	-1.8B	996M	112M	261M
Total Other Non Interest Income	5.88B	6.75B	7.05B	6.39B	6.52B
Non Interest Income, Total	6.18B	6.48B	9.04B	8.96B	9.6B
Revenues Before Provison For Loan Losses	15.89B	15.92B	20.1B	23.62B	24.74B
Provision For Loan Losses	4.1B	2.17B	2.03B	661M	750M
Total Revenues	11.78B	13.75B	18.07B	22.96B	23.99B
Salaries And Other Employee Benefits	5.92B	5.95B	5.91B	5.9B	5.89B
Amort. of Goodwill & Intang. Assets	410M	485M	514M	429M	493M
Occupancy Expense	794M	777M	759M	683M	563M
Selling General & Admin Expenses, Total	3.53B	3.69B	3.52B	3.4B	2.98B
Total Other Non Interest Expense	395M	-61M	-122M	-426M	-489M
Non Interest Expense, Total	11.04B	10.84B	10.58B	10B	9.44B
EBT, Excl. Unusual Items	740M	2.91B	7.49B	12.96B	14.55B
Restructuring Charges	-1.46B	-1.34B	-324M	-1.06B	-841M
Impairment of Goodwill	-886M	-	-	-	-
Asset Writedown	-267M	-108M	-42M	-448M	-238M
Legal Settlements	-98M	-281M	-24M	-70M	-615M
Other Unusual Items	-529M	50M	191M	66M	5M
EBT, Incl. Unusual Items	-2.5B	1.24B	7.29B	11.45B	12.86B
Income Tax Expense	322M	-331M	819M	1.92B	3.09B
Earnings From Continuing Operations	-2.83B	1.57B	6.47B	9.53B	9.77B
Earnings Of Discontinued Operations	49M	4M	3M	-	-
Net Income to Company	-2.78B	1.57B	6.47B	9.53B	9.77B
Minority Interest	-7M	-30M	-15M	-27M	-55M
Net Income - (IS)	-2.78B	1.54B	6.46B	9.51B	9.72B
Preferred Dividend and Other Adjustments	122M	30M	74M	175M	247M
Net Income to Common Incl Extra Items	-2.91B	1.51B	6.38B	9.33B	9.47B
Net Income to Common Excl. Extra Items	-2.96B	1.51B	6.38B	9.33B	9.47B
Per Share Items
Net EPS - Basic	-1.31	0.68	3.08	5.11	5.84
Basic EPS - Continuing Operations	-1.33	0.68	3.08	5.11	5.84
Basic Weighted Average Shares Outstanding	2.23B	2.22B	2.07B	1.83B	1.62B
Net EPS - Diluted	-1.31	0.67	3.06	5.04	5.78
Diluted EPS - Continuing Operations	-1.33	0.67	3.05	5.04	5.78
Diluted Weighted Average Shares Outstanding	2.23B	2.24B	2.09B	1.85B	1.64B
Normalized Basic EPS	0.2	0.81	2.25	4.42	5.57
Normalized Diluted EPS	0.2	0.8	2.23	4.36	5.52
Dividend Per Share	0.12	0.54	0.99	1.8	2.4
Payout Ratio	-20.79	50.26	26.35	25.67	50.93
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
Effective Tax Rate - (Ratio)	-12.85	-26.8	11.24	16.74	24
Total Current Taxes	-551M	-355M	1.08B	1.02B	1.71B
Total Deferred Taxes	873M	24M	-260M	894M	1.37B
Normalized Net Income	456M	1.79B	4.66B	8.07B	9.04B
Non-Cash Pension Expense	62M	12M	52M	117M	109M
Supplemental Operating Expense Items
Stock-Based Comp., SG&A Exp. (Total)	53M	69M	57M	76M	73M
Total Stock-Based Compensation	53M	69M	57M	76M	73M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	102B	108B	112B	61.11B	41.55B
Investment Securities, Total	164B	137B	122B	136B	156B
Trading Asset Securities, Total	82.33B	86.6B	62.7B	56.76B	56.1B
Total investments	246B	223B	185B	193B	212B
Gross Loans	506B	502B	518B	497B	496B
Allowance For Loan Losses	-16.84B	-13.16B	-11.89B	-10.35B	-9.27B
Other Adjustments to Gross Loans	-	-	-	-	-
Net Loans	489B	489B	506B	487B	486B
Gross Property Plant And Equipment	12.81B	15.48B	15.79B	15.38B	15.06B
Accumulated Depreciation	-4.59B	-7.6B	-8.01B	-8.15B	-8.07B
Net Property Plant And Equipment	8.22B	7.88B	7.78B	7.22B	6.99B
Goodwill	0	0	0	-	38M
Other Intangibles, Total	2.12B	2.21B	2.35B	2.27B	2.19B
Investment in Real Estate	1.09B	986M	885M	864M	1.36B
Accrued Interest Receivable	723M	722M	833M	848M	1.02B
Other Receivables	3.19B	4.02B	5.02B	7.92B	8.91B
Restricted Cash	60.2B	50.95B	19.42B	7.81B	8.29B
Other Current Assets, Total	2.05B	14.41B	1.33B	487M	535M
Deferred Tax Assets Long-Term (Collected)	11.36B	11.6B	11.85B	10.75B	9.59B
Other Real Estate Owned And Foreclosed	627M	44M	499M	540M	443M
Other Long-Term Assets, Total	4.13B	4.19B	5.01B	5.18B	4.47B
Total Assets	931B	917B	858B	785B	784B
Liabilities
Accounts Payable, Total	991M	1.05B	1.28B	990M	915M
Accrued Expenses, Total	5.37B	6.65B	5.44B	5.95B	6.28B
Interest Bearing Deposits	177B	176B	176B	128B	120B
Non-Interest Bearing Deposits	407B	431B	414B	381B	379B
Total Deposits	584B	607B	590B	509B	498B
Short-Term Borrowings	116B	80.56B	54.36B	55.6B	69.53B
Current Portion of Leases	380M	378M	353M	360M	326M
Long-Term Debt	132B	124B	114B	121B	121B
Long-Term Leases	1.94B	1.68B	1.5B	1.34B	1.16B
Current Income Taxes Payable	792M	627M	1.14B	1.19B	1.46B
Accrued Interest Payable	109M	73M	209M	228M	231M
Other Current Liabilities - (Bank / Utility Template)	13.5B	17.34B	12.69B	11.82B	7.6B
Pension & Other Post Retirement Benefits	6.27B	5.25B	3.33B	3.42B	3.49B
Deferred Tax Liability Non-Current	566M	588M	540M	292M	252M
Other Non Current Liabilities	9.99B	10.04B	9.75B	9.39B	10.57B
Total Liabilities	872B	855B	794B	721B	721B
Common Stock, Total	21.06B	21.13B	21.22B	21.28B	21.37B
Additional Paid In Capital	9.39B	5.45B	2.52B	23M	23M
Retained Earnings	20.67B	24.45B	30.18B	34.97B	35.08B
Treasury Stock	-3M	-200M	-	-1.73B	-
Comprehensive Income and Other	8.39B	10.8B	9.42B	9.53B	5.98B
Total Common Equity	59.51B	61.63B	63.34B	64.08B	62.44B
Minority Interest	435M	465M	158M	164M	400M
Total Equity	59.94B	62.09B	63.5B	64.24B	62.84B
Total Liabilities And Equity	931B	917B	858B	785B	784B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.24B	2.21B	1.94B	1.71B	1.55B
ECS Total Common Shares Outstanding	2.24B	2.21B	1.94B	1.71B	1.55B
Book Value / Share	26.6	27.87	32.73	37.42	40.25
Tangible Book Value	57.39B	59.42B	60.99B	61.81B	60.21B
Tangible Book Value Per Share	25.65	26.87	31.51	36.09	38.81
Total Debt	250B	206B	170B	178B	192B
Debt Equivalent of Unfunded Proj. Benefit Obligation	5.66B	4.71B	2.93B	3.06B	3.17B
Net Debt	-2.13B	-32.92B	-49.94B	11B	41.59B
Equity Method Investments, Total	4.35B	4.07B	3.45B	3.92B	4.29B
Full Time Employees	82.11K	78.57K	75.04K	70.75K	75.26K
Number Of Offices	-	-	-	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	-2.78B	1.54B	6.46B	9.51B	9.72B
Depreciation, Depletion & Amortization	786M	748M	722M	559M	675M
Amortization of Goodwill and Intangible Assets - (CF)	129M	1M	2M	2M	6M
Total Depreciation, Depletion & Amortization	915M	749M	724M	561M	681M
Amortization of Deferred Charges, Total	299M	497M	500M	427M	537M
(Gain) Loss On Sale of Asset - (CF)	122M	-	-	157M	-
(Gain) Loss on Sale of Investments - (CF)	-399M	-2.87B	-4.89B	907M	2.97B
Total Asset Writedown	84M	171M	79M	363M	88M
Restructuring Activities	-	80M	-	117M	-
Provision for Credit Losses	7.01B	4.25B	4.67B	3.15B	2.9B
Change in Trading Asset Securities	7.97B	3.95B	37.42B	-13.36B	-18.2B
Change in Other Net Operating Assets (Collected)	66.87B	-18.89B	-35.94B	-45.94B	-9.97B
Other Operating Activities	3.22B	3B	1.24B	2.98B	4.21B
Net Cash From Discontinued Operations	19M	-	-	-	-
Cash from Operations	83.32B	-7.52B	10.26B	-41.13B	-7.08B
Capital Expenditure	-730M	-522M	-517M	-589M	-1.25B
Sale of Property, Plant, and Equipment	1.42B	392M	393M	272M	282M
Cash Acquisitions	-16M	-99M	-	-	220M
Divestitures	39M	29M	24M	3M	-
Purchase / Sale of Intangible Assets	-700M	-715M	-653M	-561M	-488M
Investment in Marketable and Equity Securities, Total	498M	66M	380M	-18M	4M
Other Investing Activities, Total	61M	150M	136M	106M	167M
Cash from Investing	569M	-699M	-237M	-787M	-1.06B
Issuance of Common Stock	1.24B	-	-	-	-
Repurchase of Common Stock	-	-634M	-3.54B	-6.01B	-6.04B
Common Dividends Paid	-579M	-774M	-1.7B	-2.44B	-4.95B
Common & Preferred Stock Dividends Paid	-579M	-774M	-1.7B	-2.44B	-4.95B
Net Increase (Decrease) in Deposit Accounts - (CF)	-	-	-	-	-
Other Financing Activities, Total	-	-	-306M	-	-
Cash from Financing	660M	-1.41B	-5.55B	-8.45B	-10.99B
Foreign Exchange Rate Adjustments	-150M	32M	-107M	-408M	-427M
Net Change in Cash	84.4B	-9.6B	4.37B	-50.78B	-19.56B

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	-0.32	0.17	0.73	1.16	1.25
Return On Equity %	-4.64	2.57	10.26	14.93	15.38
Return on Common Equity	-4.89	2.49	10.17	14.65	14.97
Shareholders Value Added	-9B	-4.89B	-869M	2.53B	2.66B
Margin Analysis
SG&A Margin	86.89	75.75	56.39	43.52	39.35
Net Interest Income / Total Revenues %	82.35	68.67	61.22	63.83	63.09
EBT Excl. Non-Recurring Items Margin %	6.28	21.16	41.44	56.46	60.64
Income From Continuing Operations Margin %	-23.99	11.39	35.81	41.53	40.74
Net Income Margin %	-23.63	11.2	35.74	41.41	40.51
Net Avail. For Common Margin %	-25.08	10.95	35.31	40.65	39.48
Normalized Net Income Margin	3.86	13.01	25.82	35.17	37.67
Asset quality
Nonperforming Loans / Total Loans %	4.2	3.24	2.42	2.35	2.25
Nonperforming Loans / Total Assets %	2.28	1.77	1.46	1.49	1.42
Nonperforming Assets / Total Assets %	2.35	1.78	1.52	1.56	1.48
NPAs / Loans and OREO	4.32	3.25	2.52	2.46	2.34
NPAs / Equity	36.49	26.27	20.55	19.04	18.46
Allowance for Credit Losses / Nonperforming Loans %	79.28	80.93	94.72	88.52	83.07
Allowance for Credit Losses / Total Loans %	3.33	2.62	2.3	2.08	1.87
Capital And Funding
Total Average Common Equity / Total Average Assets %	6.77	6.55	7.07	7.76	8.06
Total Average Equity / Total Average Assets %	6.81	6.6	7.11	7.78	8.1
Total Equity + Allowance for Loan Losses / Total Loans %	15.08	14.9	14.53	14.97	14.47
Gross Loans / Total Deposits %	86.73	82.78	87.76	97.62	99.47
Net Loans / Total Deposits %	83.84	80.61	85.74	95.58	97.61
Tier 1 Capital Ratio %	18.22	17.94	18.65	17.84	17.75
Total Capital Ratio %	20.72	20.14	21.42	20.9	20.41
Core Tier 1 Capital Ratio	15.96	15.82	16.68	16.14	15.96
Tier 2 Capital Ratio	2.5	2.2	2.77	3.06	2.66
Coverage Ratio	79.28	80.93	94.72	88.52	83.07
Interbank Ratio	67.07	59.47	77.64	80.16	81.14
Fixed Charges Coverage
EBT + Interest Expense / Interest Expense	0.32	1.34	2.28	1.59	1.64
Growth Over Prior Year
Net Interest Income, 1 Yr. Growth %	-8.16	-2.71	17.15	32.47	3.32
Non Interest Income, 1 Yr. Growth %	-22.69	4.69	39.6	-0.82	7.14
Provision For Loan Losses, 1 Yr. Growth %	18.03	-53.3	24.6	-67.45	13.46
Total Revenues, 1 Yr. Growth %	-21.9	22.22	26.47	27.05	4.52
Earnings From Cont. Operations, 1 Yr. Growth %	-230.94	-155.39	204.9	47.36	2.52
Net Income, 1 Yr. Growth %	-182.57	-155.3	208.11	47.21	2.23
Normalized Net Income, 1 Yr. Growth %	-79.75	-12.99K	119.14	70.32	12.78
Diluted EPS Before Extra, 1 Yr. Growth %	-254.81	-150.71	231.22	65.16	14.59
Dividend Per Share, 1 Yr. Growth %	-	348.33	83.49	82.63	33.26
Gross Loans, 1 Yr. Growth %	0.08	2.17	0.69	-4	-0.34
Allowance For Loan Losses, 1 Yr. Growth %	-11.47	-21.76	-14.79	-12.91	-10.45
Net Loans, 1 Yr. Growth %	0.53	3.02	1.12	-3.79	-0.12
Non Performing Loans, 1 Yr. Growth %	-16.01	-23.43	-27.47	-6.82	-4.58
Non Performing Assets, 1 Yr. Growth %	-16.92	-25.42	-26.9	-8.43	-5.17
Total Assets, 1 Yr. Growth %	8.86	-1.59	-6.48	-8.49	-0.12
Total Deposits, 1 Yr Growth %	15.35	3.9	-2.89	-13.75	-2.2
Tangible Book Value, 1 Yr. Growth %	-2.09	3.53	1.73	1.35	-2.58
Common Equity, 1 Yr. Growth %	-3.11	3.56	1.86	1.17	-2.56
Total Equity, 1 Yr. Growth %	-2.98	3.59	1.35	1.17	-2.18
Compound Annual Growth Rate Over Two Years
Net Interest Income, 2 Yr. CAGR %	-6.76	-5.47	6.76	24.58	16.99
Non Interest Income, 2 Yr. CAGR %	-9.72	-10.03	20.89	17.67	3.08
Provision For Loan Losses, 2 Yr. CAGR %	24.34	-21.07	-33.84	-36.32	-39.23
Total Revenues, 2 Yr. CAGR %	-14.44	-4.54	26.73	26.76	15.23
Earnings From Cont. Operations, 2 Yr. CAGR %	-18.09	-14.83	51.28	111.97	22.91
Net Income, 2 Yr. CAGR %	-17.65	-32.43	52.28	112.97	22.68
Normalized Net Income, 2 Yr. CAGR %	-58.43	-10.82	1.73K	94.76	38.08
Diluted EPS Before Extra, 2 Yr. CAGR %	-12.76	-11.4	51.69	133.89	37.57
Dividend Per Share, 2 Yr. CAGR %	-33.33	-	186.82	83.06	56
Gross Loans, 2 Yr. CAGR %	-0.63	-0.37	2.65	-1.68	-2.19
Allowance For Loan Losses, 2 Yr. CAGR %	-19.29	-16.81	-15.95	-13.86	-11.69
Net Loans, 2 Yr. CAGR %	0.26	0.21	3.25	-1.36	-1.98
Non Performing Loans, 2 Yr. CAGR %	-25.39	-19.8	-23.15	-17.79	-5.7
Non Performing Assets, 2 Yr. CAGR %	-24.94	-21.29	-22.76	-17.21	-6.81
Total Assets, 2 Yr. CAGR %	5.8	3.5	-4.04	-7.49	-4.4
Total Deposits, 2 Yr CAGR %	7.68	9.48	0.54	-8.44	-8.15
Tangible Book Value, 2 Yr. CAGR %	4.18	0.68	3.09	1.54	-0.64
Common Equity, 2 Yr. CAGR %	2.73	0.17	3.17	1.51	-0.71
Total Equity, 2 Yr. CAGR %	2.23	0.25	2.92	1.26	-0.52
Compound Annual Growth Rate Over Three Years
Net Interest Income, 3 Yr. CAGR %	-2.94	-5.43	1.53	14.72	17.04
Non Interest Income, 3 Yr. CAGR %	-7.79	-5.15	4.15	13.17	14.05
Provision For Loan Losses, 3 Yr. CAGR %	25.22	-6.55	-16.42	-47.77	-22.8
Total Revenues, 3 Yr. CAGR %	-10.45	-5.12	6.19	26.84	18.86
Earnings From Cont. Operations, 3 Yr. CAGR %	-3.07	-28.1	44.17	49.96	66.38
Net Income, 3 Yr. CAGR %	-20.16	-27.89	24.17	50.57	66.75
Normalized Net Income, 3 Yr. CAGR %	-40.67	-12.13	27.53	734.88	61.93
Diluted EPS Before Extra, 3 Yr. CAGR %	-1.98	-27.19	52.72	56.05	84.38
Dividend Per Share, 3 Yr. CAGR %	-27.89	25.84	-	146.75	64.67
Gross Loans, 3 Yr. CAGR %	2.19	-0.7	0.78	0.39	-1.23
Allowance For Loan Losses, 3 Yr. CAGR %	-16.81	-20.15	-14.51	-14.95	-12.74
Net Loans, 3 Yr. CAGR %	3.47	0.14	1.29	0.85	-0.95
Non Performing Loans, 3 Yr. CAGR %	-23.97	-24.74	-20.84	-18.05	-13.6
Non Performing Assets, 3 Yr. CAGR %	-23.23	-25.1	-20.86	-17.61	-13.38
Total Assets, 3 Yr. CAGR %	3.64	3.28	0.08	-5.54	-5.1
Total Deposits, 3 Yr CAGR %	6.64	6.41	5.26	-4.44	-6.41
Tangible Book Value, 3 Yr. CAGR %	0.85	3.96	1.33	2.5	0.14
Common Equity, 3 Yr. CAGR %	0.1	3.01	1.03	2.5	0.14
Total Equity, 3 Yr. CAGR %	-0.16	2.68	0.92	2.34	0.1
Compound Annual Growth Rate Over Five Years
Net Interest Income, 5 Yr. CAGR %	-2.59	-2.49	0.83	5.59	7.46
Non Interest Income, 5 Yr. CAGR %	-3.71	-1.75	2.76	3.39	3.72
Provision For Loan Losses, 5 Yr. CAGR %	0.7	-28.9	-0.58	-24.28	-26.42
Total Revenues, 5 Yr. CAGR %	-4.16	18.61	1.94	7.36	9.72
Earnings From Cont. Operations, 5 Yr. CAGR %	33.42	-33.41	15.82	17.74	35.26
Net Income, 5 Yr. CAGR %	10.45	-33.44	3.36	18.28	23.57
Normalized Net Income, 5 Yr. CAGR %	0.92	-20.36	16.43	25.09	32.08
Diluted EPS Before Extra, 5 Yr. CAGR %	29.38	-49.68	16.73	23.66	46.47
Dividend Per Share, 5 Yr. CAGR %	-36.9	-	25.27	46.19	-
Gross Loans, 5 Yr. CAGR %	0.73	0.86	1.77	-0.61	-0.41
Allowance For Loan Losses, 5 Yr. CAGR %	-16.66	-17.06	-16.48	-16.73	-13.4
Net Loans, 5 Yr. CAGR %	2.04	1.93	2.75	0	-0.02
Non Performing Loans, 5 Yr. CAGR %	-22.87	-22	-23.64	-21.07	-15.1
Non Performing Assets, 5 Yr. CAGR %	-22.42	-21.96	-23.05	-20.63	-15.12
Total Assets, 5 Yr. CAGR %	1.6	1.3	0.5	-1.16	-1.73
Total Deposits, 5 Yr CAGR %	7.02	6.49	4.16	0.23	-0.31
Tangible Book Value, 5 Yr. CAGR %	4.33	10.45	1.74	3.17	0.54
Common Equity, 5 Yr. CAGR %	3.51	9.4	1.32	2.59	0.33
Total Equity, 5 Yr. CAGR %	2.31	7.53	1.06	2.3	0.34