Sale of Unipol Banca to BPER Group agreed - 2018 Preliminary Consolidated Results on the rise - Business Plan targets achieved

CorporateFinancial
Friday, February 8, 2019

The Board of Directors of Unipol Gruppo S.p.A., which met yesterday under the chairmanship of Pierluigi Stefanini, analysed the preliminary consolidated results for 2018. The definitive results will be examined by the governing body at its meeting scheduled for 14 March next. The Board of Directors also authorised the sale of its entire direct and indirect holding in Unipol Banca S.p.A. to BPER Banca S.p.A.. 

  • SALE OF UNIPOL BANCA TO BPER GROUP AGREED
    • Sale of the entire shareholding in Unipol Banca to BPER Banca for €220m in cash 
    • Purchase by UnipolRec of a portfolio of the BPER Banca Group non-performing loans with a gross value of 1.3€bn for a payment of €130m
  • 2018 PRELIMINARY CONSOLIDATED RESULTS ON THE RISE
    • Consolidated net profit of €628m (loss of €169m in 2017 due to the banking business restructuring plan) 
    • Direct insurance income of €12.2bn (+5.7%), not including Popolare Vita
    • Combined Ratio net of reinsurance at 94.2% 
    • Consolidated solvency ratio of 163%1 based on the partial internal model 
    • Expected dividend of €0.18 per share (dividend yield 4.5%)
  • BUSINESS PLAN TARGETS ACHIEVED
    • Consolidated accumulated ordinary profit of €1,847m
    • Confirmed cumulative dividends of €386m
    • Profitability, financial strength and shareholder return targets achieved

Read the complete Press Release.