NATIXIS :FOURTH-QUARTER AND FULL YEAR 2013 RESULTS

 | Source: NATIXIS NATIXIS

Good 2013 results buoyed by dynamic performances in our three core businesses. The first stages of our new Strategic Plan are now underway

Higher revenues in core businesses

  • Net revenues from core businesses rose 5% in 2013 vs. 2012       
    • Wholesale Banking: record of €17.5bn in Structured financing new production in 2013 and brisk levels of business maintained in capital markets
    • Investment Solutions: net revenues up 9% vs. 2012, fuelled by all business lines, and €20bn net inflow in Asset management (excluding money-market products)  
    • Specialized Financial Services: revenues advanced 7% buoyed by rising business with the Groupe BPCE networks

Improved results(1)

  • Net revenues up 4% in 2013 vs. 2012 as in 4Q13 vs. 4Q12 (€7.226bn in 2013 and €1.836bn in 4Q13)
    • Operational Efficiency Program ahead of target: 2013 target beaten by more than 35% thanks to €143m of cost reductions during the year and €240m in total
    • Pre-tax profit: €1.794bn in 2013, up 10% vs. 2012, and €432m in 4Q13, up 25% vs. 4Q12
    • Net income (group share): €1.1bn in 2013, up 8% vs. 2012 and €261m in 4Q13, up 10% vs. 4Q12
    • 8.7% ROTE(2) in 2013, a 50 bp improvement vs. 2012

Significant reinforcement of the financial structure

  • Basel 3 Core Tier 1 ratio(3) of 10.4% at end-2013
    • Basel 3 LCR(4) above 100% on January 1st, 2014
    • GAPC: €5.4bn of asset sales in 2013

New Frontier strategic plan: momentum underway

  • Acquisition of BPCE Assurances approved on February 19, 2014
    • Project for the IPO of a stake of Coface engaged
    • Launch of the cost savings additional program
 
 
        Cash dividend payout(5) of €0.16 per share for 2013
  1. Pro forma of the sale of CCIs, excluding FVA on own debt and restructuring costs
  2. Annualized ROTE: net income (group share) less cost of DSNs divided by average net assets after payment of dividends, less hybrid debt, less intangible assets, less average
    goodwill
  3. Based on Natixis understanding of CRR-CRD4 rules reported on June 26, 2013, including the Danish compromise - without phase-in except for DTAs on tax loss carry forwards
  4. Final Basel 3 impact will depend on final rules
  5. Proposal submitted to the AGM on May 20, 2014

Pièces jointes

Fourth-quarter and full year 2013 results
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