At Piazza Affari, it’s the banking and insurance sectors that keep the profitability front in focus. The main key numbers of the third part statistical bulletin of Consob for the year 2023In 2023, banks and insurance companies listed on the Milan Stock Exchange on the main market (Euronext Milan, Exm) recorded profit growth of 67% and 66% respectively. % compared to 2022.
The results of the budget were also reflected in stock prices, with double-digit growth in major banks and insurance companies.
Results in contrast to other listed companies (-19.5% net profit in 2023 year-on-year) and for companies that trade (-17%) on Euronext Growth Milan (Egm), an unregulated trading platform created to facilitate the entry of small and medium enterprises. – medium-sized enterprises (SMEs) to the capital market.
Banks. profits increase due to the increase in interest
Exm-listed Italian banks posted strong performance profit increase: 26.2 billion euros (+67% compared to 2022) is mainly due improving operational management results which emphasized a strong growth in net interest (+39% compared to 2022), which significantly exceeds the increase in operating expenses.
The favorable trend is due, among other things, to the large margins generated by the difference between active and passive interest rates. at the end of 2023, The net assets of listed banks increased slightly, reaching 191.8 billion euros (+6% compared to 2022).
Profitability is also skyrocketing for insurance companies
It is also a year to remember for Italian insurance companies mentioned in Exm, which instead recorded a net profit: 5.4 billion euros In 2023, a strong increase compared to the previous administration (+66%). Growth was conditionedincrease in net income from investment activities (22.7 billion in 2023, compared to -9 billion in 2022) and insurance proceeds (+€5 billion vs. 2022), partially offset by higher claims (+€4.6 billion vs. 2022) and administrative and selling expenses (€25.7 billion vs. €4.7 billion in 2022). By the end of 2023The net worth of listed insurance companies reached 41 billion euros from 37.6 billion euros at the end of 2022.
Minus sign for other listed companies
Opposite sign the condition of other companies except banks and insurance Listed under Italian law in Exm, it posted profits of approximately €24.9 billion in 2023, down 19.5 percent from the previous year.
The result is attributed to a slight deterioration in operational management (revenues decreased by 18% against a 23% decrease in operating expenses), a reduction in financial income (-€5.3 billion) and an increase in financial expenses (+3.3 billion) in 2023. At the end of 2020, the net assets of companies other than banks and insurance companies listed on Exm increased to 259 billion euros (+4% compared to the end of 2022).
Finally, what about? companies trading on EGMEarnings in 2023 are generally settled at approx 313 million euros, a decrease of 27% compared to the previous year. The result is due to the deterioration of operational management. revenues actually rose 13% against a more than commensurate increase in operating expenses of 18%. At the end of 2023, the net worth of companies traded at the EGM increased to 4.7 billion euros (+13% compared to the end of 2022).
