May 8, 2024
Pursuant to the Rules of the Ljubljana Stock Exchange and
Article 158 of the Market Financial Instruments Act, relating to
the Article 17 of the Regulation (EU) No 596/2014, NLB d.d., Trg
republike 2, 1000 Ljubljana, announces:
NLB
Group Delivers Solid Results in Q1 with EUR 140.0 Million of Result
After Tax
A stable business environment with
moderately slowing economic growth in the South-eastern European
(SEE) region, and stagnant inflation rates in the first quarter of
the year materialized in the solid business results for NLB
Group.
The Group's performance in the first
quarter that led to EUR 140.0
million of result after tax is confirmation that the Group
is well on track to bring about the expected results, communicated
in the 2024 outlook. Furthermore, for the market participants who
are constantly re-assessing the business and market situation, it
should come as no surprise that the evolution of the global
macroeconomic trends at the beginning of the year have led
NLB Group to increase the outlook
for the regular income for 2024 by approximately
EUR 100 million.
Increased guidance for the revenue, coupled with
cost discipline has allowed for sharpened guidance for the
cost-to-income ratio. The Bank now expects that CIR will be around
45% in both 2024 and 2025, a substantial improvement from the
previous guidance of below 50%.
You may find key highlights of the
NLB Groups' business operations in the First Quarter 2024, Investor
presentation and NLB Group Factsheet on the links below.
•
Key Highlights in the First Quarter 2024
•
Interim Report
•
Investor presentation
•
NLB Group Factsheet
NLB Group will reveal more about the
key performance indicators together with the expected business
development in the future, as well as the new business strategy and
vision for 2030 at tomorrow's (9 May, 2024) NLB Investor Day: New Capital
Horizons.
"As NLB team we are honoured and
looking forward to the fact that tomorrow we will once again have
the opportunity not only to welcome our shareholders, potential
investors, analysts, and financial experts from across the globe,
as well as representatives of key regional companies, but above all
to be able to present to them the ambitious strategy of our NLB
Group until 2030," said NLB's CEO Blaž Brodnjak upon the publication of
the results. "With a thorough understanding of the business
environment and a careful consideration of the risks, the new
business strategy draws a path that will continue to justify the
trust of our shareholders with strong dividend payments, while at
the same time pursuing long-term development of the Group and
indirectly, also the wider economic environment in our home
region," he explained further.
The Supervisory Board's Chairman
Primož Karpe also expressed
confidence in the future development of the NLB Group. "Our trust
is strengthened by the Group's stable business results and its
constant adaptation and response to market conditions," he said.
"At the Supervisory Board, our mindset strongly supports the Bank's
and Group's future strategy in a way that unlocks shareholder
value. The time has come to talk about value creation that a
sustainable banking business model can generate going forward," he
added.
You
are Kindly Invited to Follow NLB Investor Day: New Capital
Horizons
As mentioned, the second NLB Investor Day: New Capital Horizons
will be held tomorrow, on
Thursday, 9 May, 2024, at the Grand Hotel Union Eurostars in
Ljubljana, Slovenia, and will be focusing on presenting
NLB and NLB Group's new business
strategy and a vision for 2030. The registration for the
event live is no longer possible. However, the interested public
can follow the event online by
registering here.
A recording of the event will later also be available on
demand.
A day later, on Friday, May 10, 2024,
NLB Investor Day will be followed by the Slovenian and Croatian Investor
Conference, powered by NLB, which will offer an opportunity
to interested investors to meet some of the top listed companies
from those two markets.
Investor Relations
NLB d.d., Ljubljana
