February 20, 2025
Pursuant to the Rules of the
Ljubljana Stock Exchange and Article 17 of the Regulation (EU) No
596/2014, NLB d.d., Trg republike 2, 1000 Ljubljana,
announces:
NLB Group Paves the Way to
Achieving Strategic Ambitions with EUR 514.6 Million in Net Profit
for 2024
Looking back at the 2024, it's clear
that it has been yet another strong year for NLB Group - one that
will play a crucial role in shaping not only its future, but also
in the development of the Southeastern European region in which the
Group operates.
It was a year that, amongst others,
marked the successful acquisitions of SLS Group and
Generali Investments AD Skopje,
dynamic activity on regional financial and international
capital
markets, several enhancements in clients' user
experience, a substantial dividend payout of EUR 220 million in two
tranches, and kicked off a new period in the Group's transformation
with the introduction of its new business
strategy.
The financial year
concluded with a
strong profit after tax result
at EUR 514.6
million, with pre-provision profit up a
respectable 9% YoY (EUR 51.2 million). Profit after tax was, however, still down EUR 36.1 million
or a 7% decline compared to the previous year, which was positively
influenced by the booking of deferred tax assets (EUR 61.9 million)
and negatively by the booking of WHT (EUR 9.6 million), with 2024
also showing a moderate, but still positive cost of risk of 14 bps
(2023 still had a negative cost of risk).
You may find key highlights of the
NLB Groups' business operations in the fourth quarter and full year
2024, investor presentation and NLB Group factsheet on the links
below.
·
Key Highlights of the Q4 and the Full Year
2024
·
Investor Presentation
·
NLB Group Factsheet
"Global economic development that
held up well in the first half of the year, albeit being more
moderate later, nevertheless supported NLB Group's performance. All
our banking members in our home region of SEE strengthened their
market positions, with subsidiaries delivering solid net earnings
and contributing 58.2% to the Group's after-tax result. This
further underscores the importance of diversified operations - not
only in banking but across the broader financial sector, which
ultimately remains a key pillar of the Group's vision for the
future," commented NLB's CEO Blaž
Brodnjak upon publication of the
2024 unaudited results. "NLB Group is firmly positioned for further
growth and development, continued delivery on shareholders'
expectations - indeed, we expect this year's dividend payout to
reach 50% of 2024's profit - and the ability to continue supporting
all the markets, societies, and communities in our home region
where we operate," he added.
The
Chairman of the Supervisory Board, Primož
Karpe, reflecting on both past and
future periods of the Group's operations, added: "The Supervisory
Board is satisfied with the Group's strong baseline performance,
exemplifying that even in a dynamic environment, the Group
maintains its resilience and prudence in decision-making. Our
operating model is future-oriented, focused on end-to-end process
optimisation and subsequent digitalization, allowing scalability,
understanding of technology and data, and the talent required to
utilise it productively, investing in it to help transform the
bank. The end game is to serve the clients better and with more
tailor-made solutions, enhancing their user experience. That said,
we are confidently looking ahead towards our communicated strategic
ambitions and our ability to deliver on long-term growth targets
and the creation of lasting value for all stakeholders."
You
are Kindly Invited to the Webcast Presentation
We kindly invite all interested
stakeholders to the presentation of the NLB
Group's Fourth Quarter and Full Year 2024
results, hosted by the NLB
Management Board. The call will take place on Thursday, 20
February, 2025, at 16:00 CEST/15.00 UK and will be available
at
https://www.nlbgroup.com/int-en/investor-relations/investor-relations-events.
Members of the Management Board
will, as usual, receive and address your questions live during
the
webcast. If you already know what
you wish to ask them, you may submit your questions in advance. If
you register for the event, you will be able to send them via the
web app, or you may simply send them to the email address
IR@nlb.si.
This announcement will be available
on the NLB d.d.'s website (https://www.nlbgroup.com)
as of 20 February 2025.
Investor relations
NLB d.d., Ljubljana
