IITSF - Intesa Sanpaolo S.p.A. (ISNPY) Q4 2023 Earnings Call Transcript
2024-02-06 13:45:26 ET
Intesa Sanpaolo S.p.A. (ISNPY)
Q4 2023 Earnings Conference Call
February 6, 2024, 9:00 AM ET
Company Participants
Carlo Messina - Chief Executive Officer
Stefan Del Punta - Chief Financial Officer
Luca Bocca - Deputy Chief Financial Officer
Marco Delfrate - Investor Relations Officers
Andrea Tamagnini - Investor Relations Officers
Conference Call Participants
Antonio Reale - Bank of America
Azzurra Guelfi - Citi
Delphine Lee - JPMorgan
Britta Schmidt - Autonomous Research
Giovanni Razzoli - Deutsche Bank
Pamela Zuluaga - Morgan Stanley
Hugo Cruz - KBW
Chris Hallam - Goldman Sachs International
Ignacio Cerezo - UBS
Presentation
Operator
Good afternoon, ladies and gentlemen. And welcome to the Conference Call of Intesa Sanpaolo for the Presentation of the Full Year 2023 Results, hosted today by Mr. Carlo Messina, Chief Executive Officer. My name is Razia, and I will be your coordinator for today’s conference. At the end of the presentation, there will be a question-and-answer session. [Operator Instructions]
I’ll remind you all that this conference is being recorded. At this time, I would like to turn the conference over to Mr. Carlo Messina, CEO. Sir, you may begin.
Carlo Messina
Thank you. Welcome to our full year 2023 results conference call. This is Carlo Messina, Chief Executive Officer; and I’m here with Stefan Del Punta, CFO; Luca Bocca, Deputy CFO; and Marco Delfrate and Andrea Tamagnini, Investor Relations Officers.
Today, I’m going to walk you through our best ever results. We are over delivering on our financial commitments as we execute our industrial plan. This excellent performance enables us to reward shareholders with dividends of €5.4 billion for 2023. Our dividend yield is the highest in Europe at 12%. Our fully earning per share and dividend per share are up 80% versus the previous year.
Our strong profitability and rock solid capital position means that subject to ECB and shareholders approvals, in June, we intend to launch a new share buyback representing around 55 basis points of common equity tier one ratio. We clearly have excess capital. Any additional distribution for 2024 and 2025 will be evaluated year-by-year.
We are highly capitalized, profitable and liquid. We further strengthen our zero NPL status. 2023 net income was €7.7 billion, the best ever. We also delivered the best ever year for operating income, operating margin and gross income. Q4 was the best four quarter ever. We leveraged Q4 profitability to strengthen buffers and sustain our future results. We expect to deliver a net income above €8 billion this year and next....
Intesa Sanpaolo S.p.A. (ISNPY) Q4 2023 Earnings Call Transcript